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

JPMorgan Chase & Co. upgraded shares of Robinhood Markets (NASDAQ:HOOD) from an underweight rating to a neutral rating in a report released on Tuesday morning, Marketbeat.com reports. The brokerage currently has $43.00 price objective on the stock, up from their previous price objective of $20.00.

A number of other brokerages also recently commented on HOOD. Morgan Stanley raised shares of 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 report on Monday, November 25th. Needham & Company LLC restated a “buy” rating and issued a $52.00 price target (up from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Keefe, Bruyette & Woods lifted their price target on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. JMP Securities increased their price objective on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.67.

Robinhood Markets Price Performance

HOOD opened at $40.81 on Tuesday. The business has a fifty day moving average price of $36.67 and a 200 day moving average price of $27.29. Robinhood Markets has a 12 month low of $10.38 and a 12 month high of $43.83. The stock has a market capitalization of $36.08 billion, a price-to-earnings ratio of 69.17, a PEG ratio of 0.81 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data 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 return on equity of 7.52% and a net margin of 21.80%. The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. The business’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) earnings per share. On average, research analysts anticipate that Robinhood Markets will post 0.8 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $42.64, for a total transaction of $250,552.64. Following the completion of the sale, the chief technology officer now directly owns 5,876 shares of the company’s stock, valued at approximately $250,552.64. This trade represents a 50.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 19,861 shares of the business’s stock in a transaction that occurred on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the transaction, the insider now directly owns 395,166 shares in the company, valued at approximately $14,834,531.64. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,708,196 shares of company stock worth $138,845,043. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after buying an additional 3,817,355 shares during the last quarter. Azora Capital LP acquired a new position in shares of Robinhood Markets during the third quarter worth about $79,780,000. FMR LLC raised its holdings in Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares in the last quarter. Renaissance Technologies LLC lifted its position in Robinhood Markets by 37.7% in 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 during the period. Finally, Geode Capital Management LLC boosted its holdings in Robinhood Markets by 19.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 shares in the last quarter. 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.