Robinhood Markets (NASDAQ:HOOD) Given New $33.00 Price Target at JMP Securities

Robinhood Markets (NASDAQ:HOOD) had its target price upped by JMP Securities from $30.00 to $33.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a market outperform rating on the stock.

Several other research firms also recently issued reports on HOOD. KeyCorp increased their target price on Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Piper Sandler raised their price target on Robinhood Markets from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group increased their price objective on Robinhood Markets from $22.50 to $25.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Citigroup raised their target price on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Hold” and a consensus price target of $25.17.

Robinhood Markets Trading Up 2.0 %

NASDAQ:HOOD opened at $23.97 on Thursday. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $28.58. The firm’s 50 day moving average is $23.44 and its 200 day moving average is $21.43. The stock has a market capitalization of $21.21 billion, a PE ratio of 40.63 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.61%. The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The business’s quarterly revenue was up 36.4% compared to the same quarter last year. Research analysts predict that Robinhood Markets will post 0.74 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 98,404 shares of Robinhood Markets stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $26.40, for a total value of $2,597,865.60. Following the completion of the transaction, the director now owns 2,521 shares of the company’s stock, valued at $66,554.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Baiju Bhatt sold 98,404 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the completion of the transaction, the director now directly owns 2,521 shares in the company, valued at $66,554.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven M. Quirk sold 208,291 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $24.98, for a total value of $5,203,109.18. Following the sale, the insider now owns 346,020 shares in the company, valued at approximately $8,643,579.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,389,654 shares of company stock valued at $106,229,132. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Robinhood Markets by 1.8% during the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after acquiring an additional 1,003,535 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Robinhood Markets by 87.1% in the first quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock worth $117,000 after buying an additional 2,700 shares during the last quarter. O Neil Global Advisors Inc. bought a new stake in Robinhood Markets during the second quarter valued at approximately $2,298,000. SG Americas Securities LLC increased its holdings in Robinhood Markets by 62.5% during the first quarter. SG Americas Securities LLC now owns 283,684 shares of the company’s stock valued at $5,711,000 after buying an additional 109,059 shares during the last quarter. Finally, LifePro Asset Management bought a new position in Robinhood Markets in the third quarter worth approximately $1,677,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Company Profile

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.