Robinhood Markets (NASDAQ:HOOD) Given New $22.00 Price Target at Morgan Stanley

Robinhood Markets (NASDAQ:HOOD) had its price target hoisted by Morgan Stanley from $21.00 to $22.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other analysts also recently weighed in on the company. Citigroup upped their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. Keefe, Bruyette & Woods dropped their price objective on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Barclays upped their price objective on Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets has a consensus rating of “Hold” and a consensus target price of $24.43.

Robinhood Markets Stock Performance

HOOD opened at $26.32 on Thursday. The firm has a market cap of $23.13 billion, a P/E ratio of 175.47 and a beta of 1.84. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $27.33. The business’s fifty day moving average is $21.86 and its 200-day moving average is $20.77.

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

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Steven M. Quirk sold 208,291 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the completion of the sale, the insider now owns 346,020 shares of the company’s stock, valued at $8,643,579.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The disclosure for this sale can be found here. Insiders sold 4,541,250 shares of company stock worth $107,643,767 over the last ninety days. 19.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in Robinhood Markets by 183.6% during the third quarter. Blue Trust Inc. now owns 22,938 shares of the company’s stock worth $521,000 after purchasing an additional 14,849 shares during the period. Aspiriant LLC acquired a new stake in Robinhood Markets during the third quarter worth approximately $985,000. Harbour Capital Advisors LLC acquired a new stake in Robinhood Markets during the third quarter worth approximately $851,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Robinhood Markets by 66.7% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 22,737 shares of the company’s stock worth $533,000 after purchasing an additional 9,101 shares during the period. Finally, Vontobel Holding Ltd. grew its stake in Robinhood Markets by 32.3% during the third quarter. Vontobel Holding Ltd. now owns 28,125 shares of the company’s stock worth $659,000 after purchasing an additional 6,872 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.