Robinhood Markets, Inc. (NASDAQ:HOOD – Get Rating)’s share price was up 6.6% on Thursday after KeyCorp raised their price target on the stock from $11.00 to $13.00. KeyCorp currently has an overweight rating on the stock. Robinhood Markets traded as high as $12.35 and last traded at $12.15. Approximately 134,808 shares changed hands during trading, a decline of 98% from the average daily volume of 7,371,049 shares. The stock had previously closed at $11.40.
A number of other analysts have also issued reports on HOOD. Barclays raised their price target on Robinhood Markets from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Monday, October 10th. JMP Securities dropped their price target on shares of Robinhood Markets from $36.00 to $28.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 12th. Morgan Stanley lifted their price target on shares of Robinhood Markets from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Wednesday, October 12th. Piper Sandler dropped their price objective on Robinhood Markets from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, August 3rd. Finally, Atlantic Securities lifted their target price on Robinhood Markets from $5.00 to $7.00 and gave the company an “underweight” rating in a report on Wednesday, August 31st. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets currently has a consensus rating of “Hold” and an average price target of $13.04.
Insider Buying and Selling at Robinhood Markets
In other news, insider Daniel Martin Gallagher, Jr. sold 27,181 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $10.11, for a total value of $274,799.91. Following the completion of the sale, the insider now owns 211,567 shares of the company’s stock, valued at approximately $2,138,942.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 27,181 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $10.11, for a total transaction of $274,799.91. Following the transaction, the insider now owns 211,567 shares of the company’s stock, valued at approximately $2,138,942.37. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jason Warnick sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $10.67, for a total value of $213,400.00. Following the completion of the sale, the chief financial officer now owns 415,084 shares of the company’s stock, valued at $4,428,946.28. The disclosure for this sale can be found here. 15.31% of the stock is currently owned by insiders.
Institutional Trading of Robinhood Markets
A number of institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. bought a new position in shares of Robinhood Markets during the third quarter valued at approximately $483,000. US Bancorp DE boosted its position in Robinhood Markets by 32.4% during the 3rd quarter. US Bancorp DE now owns 11,038 shares of the company’s stock valued at $111,000 after purchasing an additional 2,698 shares during the period. CWM LLC grew its stake in Robinhood Markets by 22.8% during the 3rd quarter. CWM LLC now owns 4,879 shares of the company’s stock worth $49,000 after buying an additional 906 shares during the last quarter. Chico Wealth RIA increased its position in Robinhood Markets by 69.4% in the third quarter. Chico Wealth RIA now owns 21,555 shares of the company’s stock worth $218,000 after buying an additional 8,832 shares during the period. Finally, Balentine LLC bought a new stake in Robinhood Markets in the third quarter valued at $149,000. 57.95% of the stock is owned by institutional investors and hedge funds.
Robinhood Markets Price Performance
The firm’s fifty day moving average price is $10.24 and its 200-day moving average price is $9.63. The company has a market cap of $10.70 billion, a price-to-earnings ratio of -1.25 and a beta of 1.01.
Robinhood Markets (NASDAQ:HOOD – Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.02. Robinhood Markets had a negative net margin of 221.99% and a negative return on equity of 27.59%. The firm had revenue of $318.00 million for the quarter, compared to the consensus estimate of $351.65 million. As a group, equities analysts forecast that Robinhood Markets, Inc. will post -1.33 earnings per share for the current fiscal year.
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), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron’s, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade.