Robinhood Markets (NASDAQ:HOOD) Raised to Neutral at JPMorgan Chase & Co.

Robinhood Markets (NASDAQ:HOOD) was upgraded by JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued on Tuesday, MarketBeat.com reports. The brokerage presently has a $43.00 price objective on the stock, up from their prior price objective of $20.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 0.68% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $24.00 to $55.00 in a research note on Monday, November 25th. Piper Sandler raised their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. KeyCorp increased their price target on Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.67.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $42.71 on Tuesday. Robinhood Markets has a 52 week low of $10.38 and a 52 week high of $43.83. The firm has a 50-day moving average price of $35.82 and a two-hundred day moving average price of $26.97. The firm has a market cap of $37.75 billion, a price-to-earnings ratio of 72.39, a price-to-earnings-growth ratio of 0.81 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same period in the previous year, the business posted ($0.09) earnings per share. The business’s revenue was up 36.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Robinhood Markets will post 0.8 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 19,861 shares of Robinhood Markets stock in a transaction on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total transaction of $745,581.94. Following the completion of the sale, the insider now owns 395,166 shares of the company’s stock, valued at approximately $14,834,531.64. This trade represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,373,675 shares of company stock valued at $125,319,092. Company insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after buying an additional 3,368,118 shares in the last quarter. State Street Corp grew its position in Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after acquiring an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC increased its stake in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after acquiring an additional 1,895,427 shares during the last quarter. Renaissance Technologies LLC raised its position in Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after purchasing an additional 2,094,800 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Robinhood Markets by 33.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after purchasing an additional 1,137,677 shares in the last quarter. 93.27% of the stock is currently owned by 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.