Robinhood Markets (NASDAQ:HOOD) PT Lowered to $22.00

Robinhood Markets (NASDAQ:HOOD) had its target price decreased by equities researchers at Keefe, Bruyette & Woods from $23.00 to $22.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 22.77% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Citigroup raised shares of Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 target price for the company in a research report on Monday, August 5th. Morgan Stanley increased their target price on shares of Robinhood Markets from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. JMP Securities reissued a “market outperform” rating and set a $30.00 target price on shares of Robinhood Markets in a research report on Friday, June 7th. KeyCorp increased their target price on shares of Robinhood Markets from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, The Goldman Sachs Group increased their target price on shares of Robinhood Markets from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.70.

Robinhood Markets Stock Up 1.1 %

Shares of NASDAQ HOOD traded up $0.19 during midday trading on Thursday, reaching $17.92. 17,345,932 shares of the company’s stock traded hands, compared to its average volume of 16,360,838. The stock’s 50 day simple moving average is $21.73 and its 200-day simple moving average is $18.42. Robinhood Markets has a one year low of $7.91 and a one year high of $24.88. The company has a market cap of $15.75 billion, a price-to-earnings ratio of 119.47 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The firm had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. During the same period last year, the firm earned $0.03 earnings per share. The company’s quarterly revenue was up 40.3% on a year-over-year basis. Equities analysts predict that Robinhood Markets will post 0.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Baiju Bhatt sold 116,669 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $22.02, for a total transaction of $2,569,051.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The disclosure for this sale can be found here. Insiders sold a total of 1,247,913 shares of company stock valued at $25,680,423 over the last 90 days. Insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Robinhood Markets by 1.8% in the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after purchasing an additional 1,003,535 shares during the period. Banque Cantonale Vaudoise grew its position in shares of Robinhood Markets by 21,404.0% in the first quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock valued at $1,948,000 after purchasing an additional 96,318 shares during the period. UniSuper Management Pty Ltd grew its position in shares of Robinhood Markets by 87.1% in the first quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock valued at $117,000 after purchasing an additional 2,700 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $8,299,000. Finally, Strs Ohio purchased a new position in shares of Robinhood Markets in the fourth quarter worth about $750,000. Institutional investors and hedge funds 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.