Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $30.00 at KeyCorp

Robinhood Markets (NASDAQ:HOOD) had its price objective lifted by KeyCorp from $25.00 to $30.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts also recently issued reports on HOOD. Keefe, Bruyette & Woods reduced their price objective on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Bank of America raised their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Morgan Stanley upped their target price on Robinhood Markets from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Barclays raised their target price on Robinhood Markets from $20.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $24.97.

Robinhood Markets Trading Up 0.5 %

Shares of NASDAQ:HOOD opened at $26.97 on Monday. The company has a market cap of $23.70 billion, a price-to-earnings ratio of 179.80 and a beta of 1.84. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $27.33. The company has a 50-day moving average price of $22.20 and a 200-day moving average price of $20.91.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. The business had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The business’s revenue was up 40.3% on a year-over-year basis. During the same quarter last year, the business posted $0.03 EPS. As a group, research analysts forecast that Robinhood Markets will post 0.76 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 98,404 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the sale, the director now directly owns 2,521 shares of the company’s stock, valued at approximately $66,554.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Baiju Bhatt sold 98,404 shares of the company’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 transaction, the director now owns 2,521 shares in the company, valued at approximately $66,554.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total transaction of $241,625.00. Following the sale, the insider now owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,639,654 shares of company stock valued at $110,241,632 in the last quarter. 19.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Eastern Bank bought a new stake in Robinhood Markets in the 3rd quarter worth about $30,000. Signaturefd LLC boosted its holdings in shares of Robinhood Markets by 16.5% during the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after acquiring an additional 487 shares during the last quarter. Toth Financial Advisory Corp grew its stake in shares of Robinhood Markets by 36.2% in the third quarter. Toth Financial Advisory Corp now owns 41,400 shares of the company’s stock worth $970,000 after acquiring an additional 11,000 shares during the period. Castleview Partners LLC raised its holdings in shares of Robinhood Markets by 18.2% during the third quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock valued at $89,000 after purchasing an additional 582 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Robinhood Markets by 1,211,858.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after purchasing an additional 3,817,355 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.