Robinhood Markets (NASDAQ:HOOD) Lifted to “Overweight” at Piper Sandler

Piper Sandler upgraded shares of Robinhood Markets (NASDAQ:HOOD) from a neutral rating to an overweight rating in a research report report published on Monday, MarketBeat Ratings reports. The firm currently has $23.00 target price on the stock, up from their previous target price of $20.00.

Other research analysts have also issued reports about the stock. Keefe, Bruyette & Woods cut their target price on shares of Robinhood Markets from $23.00 to $22.00 and set a market perform rating for the company in a report on Thursday, August 8th. Citigroup upgraded shares of Robinhood Markets from a sell rating to a neutral rating and set a $18.00 target price on the stock in a report on Monday, August 5th. Wolfe Research raised shares of Robinhood Markets from a peer perform rating to an outperform rating and set a $29.00 price target for the company in a report on Wednesday, June 26th. Mizuho boosted their price objective on Robinhood Markets from $20.00 to $21.00 and gave the stock a buy rating in a research note on Monday, May 6th. Finally, KeyCorp upped their price objective on Robinhood Markets from $23.00 to $25.00 and gave the company an overweight rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $22.43.

Robinhood Markets Stock Up 1.3 %

Shares of HOOD stock opened at $18.65 on Monday. The company’s fifty day simple moving average is $21.57 and its two-hundred day simple moving average is $18.58. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $24.88. The stock has a market cap of $16.39 billion, a P/E ratio of 124.33 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The company had revenue of $682.00 million during the quarter, compared to analyst estimates of $640.39 million. During the same period in the prior year, the company earned $0.03 earnings per share. The firm’s revenue was up 40.3% on a year-over-year basis. On average, analysts anticipate that Robinhood Markets will post 0.57 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Robinhood Markets news, CFO Jason Warnick sold 5,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $21.25, for a total value of $106,250.00. Following the completion of the sale, the chief financial officer now directly owns 1,066,241 shares in the company, valued at approximately $22,657,621.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,231,246 shares of company stock worth $25,375,917. 19.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. Angeles Wealth Management LLC boosted its stake in shares of Robinhood Markets by 5.3% during the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock valued at $246,000 after purchasing an additional 610 shares in the last quarter. GAMMA Investing LLC boosted its position in Robinhood Markets by 44.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after acquiring an additional 710 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares during the period. Commerce Bank raised its position in shares of Robinhood Markets by 7.9% in the 4th quarter. Commerce Bank now owns 12,459 shares of the company’s stock worth $159,000 after acquiring an additional 917 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Robinhood Markets by 4.7% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock worth $310,000 after purchasing an additional 1,060 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.