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

Robinhood Markets (NASDAQ:HOOD) was upgraded by equities research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued on Tuesday, MarketBeat reports. The brokerage currently has a $43.00 price objective on the stock, up from their prior price objective of $20.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 5.37% from the stock’s previous close.

Several other equities research analysts also recently weighed in on HOOD. KeyCorp upped their target price on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Piper Sandler upped their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $24.00 to $55.00 in a research note on Monday, November 25th. JMP Securities boosted their target price on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 12th. Finally, Barclays raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $26.00 to $49.00 in a research report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.67.

Robinhood Markets Stock Up 0.6 %

NASDAQ:HOOD opened at $40.81 on Tuesday. Robinhood Markets has a 52 week low of $10.38 and a 52 week high of $43.83. The stock’s fifty day moving average is $36.32 and its two-hundred day moving average is $27.20. The stock has a market capitalization of $36.08 billion, a price-to-earnings ratio of 69.17, a price-to-earnings-growth ratio of 0.81 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last posted 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). The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. Robinhood Markets’s revenue was up 36.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS. On average, sell-side analysts expect that Robinhood Markets will post 0.8 EPS for the current fiscal year.

Insider Activity

In other news, Director Baiju Bhatt sold 108,964 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $24.92, for a total value of $2,715,382.88. Following the completion of the sale, the director now directly owns 2,521 shares of the company’s stock, valued at approximately $62,823.32. The trade was a 97.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $24.21, for a total value of $6,052,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,708,196 shares of company stock worth $138,845,043. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently modified their holdings of HOOD. HM Payson & Co. increased its holdings in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the period. Eastern Bank acquired a new position in Robinhood Markets in the third quarter valued at $30,000. True Wealth Design LLC purchased a new stake in shares of Robinhood Markets in the third quarter valued at about $30,000. ORG Wealth Partners LLC acquired a new stake in shares of Robinhood Markets during the third quarter worth about $33,000. Finally, Connective Portfolio Management LLC purchased a new position in shares of Robinhood Markets during the third quarter worth about $47,000. 93.27% of the stock is owned by institutional investors and hedge funds.

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.