Robinhood Markets (NASDAQ:HOOD) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Robinhood Markets (NASDAQ:HOOD) from an equal weight rating to an overweight rating in a research report sent to investors on Monday, MarketBeat Ratings reports. Morgan Stanley currently has $55.00 price objective on the stock, up from their prior price objective of $24.00.

HOOD has been the topic of a number of other research reports. Needham & Company LLC upgraded shares of Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Monday, November 18th. Keefe, Bruyette & Woods lowered their target price on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Barclays boosted their price target on Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. KeyCorp increased their price objective on Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Sanford C. Bernstein upped their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.59.

Robinhood Markets Stock Up 3.4 %

NASDAQ:HOOD opened at $37.65 on Monday. Robinhood Markets has a 12-month low of $8.35 and a 12-month high of $39.74. The firm has a market capitalization of $33.28 billion, a price-to-earnings ratio of 64.27, a P/E/G ratio of 0.88 and a beta of 1.84. The stock’s 50 day moving average price is $27.55 and its two-hundred day moving average price is $23.29.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share 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 during the quarter, compared to the consensus estimate of $660.53 million. During the same quarter last year, the company posted ($0.09) EPS. The firm’s revenue was up 36.4% on a year-over-year basis. Equities research analysts expect that Robinhood Markets will post 0.74 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total transaction of $4,815,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Meyer Malka sold 105,875 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $3,176,250.00. Following the completion of the sale, the director now owns 28,930,243 shares of the company’s stock, valued at $867,907,290. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,685,549 shares of company stock valued at $114,953,194 in the last 90 days. 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. Acadian Asset Management LLC acquired a new position in shares of Robinhood Markets in the 1st quarter valued at about $270,000. O Shaughnessy Asset Management LLC acquired a new position in Robinhood Markets in the first quarter valued at approximately $206,000. UniSuper Management Pty Ltd boosted its holdings in shares of Robinhood Markets by 87.1% during the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Robinhood Markets by 169.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock worth $40,092,000 after buying an additional 1,251,495 shares during the period. Finally, Public Employees Retirement Association of Colorado bought a new stake in shares of Robinhood Markets in the 1st quarter valued at $988,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.