Robinhood Markets (NASDAQ:HOOD) Given New $17.00 Price Target at JPMorgan Chase & Co.

Robinhood Markets (NASDAQ:HOOD) had its target price upped by JPMorgan Chase & Co. from $16.00 to $17.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an underweight rating on the stock.

Other equities analysts have also issued research reports about the stock. KeyCorp lifted their price target on shares of Robinhood Markets from $23.00 to $25.00 and gave the company an overweight rating in a report on Friday, July 19th. The Goldman Sachs Group increased their target price on Robinhood Markets from $19.00 to $21.00 and gave the stock a neutral rating in a research report on Thursday, July 11th. Barclays boosted their price target on Robinhood Markets from $18.00 to $20.00 and gave the company an underweight rating in a research report on Wednesday, July 10th. Citigroup upgraded Robinhood Markets from a sell rating to a neutral rating and set a $18.00 price target for the company in a research note on Monday. Finally, Mizuho lifted their price objective on Robinhood Markets from $20.00 to $21.00 and gave the company a buy rating in a research note on Monday, May 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Robinhood Markets has a consensus rating of Hold and a consensus target price of $21.70.

Robinhood Markets Price Performance

NASDAQ:HOOD traded up $0.19 during mid-day trading on Thursday, reaching $17.92. The company’s stock had a trading volume of 17,129,013 shares, compared to its average volume of 16,360,838. The stock has a market cap of $15.75 billion, a P/E ratio of 119.47 and a beta of 1.83. The company’s fifty day simple moving average is $21.73 and its two-hundred day simple moving average is $18.36. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.06. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The business had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same period in the prior year, the firm posted $0.03 EPS. The company’s revenue was up 40.3% on a year-over-year basis. Sell-side analysts expect that Robinhood Markets will post 0.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $21.05, for a total value of $263,125.00. Following the completion of the transaction, the insider now owns 943,815 shares of the company’s stock, valued at $19,867,305.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets 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 a total of 1,247,913 shares of company stock worth $25,680,423 in the last 90 days. 19.95% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

A number of hedge funds have recently made changes to their positions in the stock. Angeles Wealth Management LLC boosted its stake in Robinhood Markets by 5.3% during the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock valued at $246,000 after acquiring an additional 610 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Robinhood Markets by 44.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after purchasing an additional 710 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares during the last quarter. Commerce Bank grew its stake in Robinhood Markets by 7.9% in the fourth quarter. Commerce Bank now owns 12,459 shares of the company’s stock worth $159,000 after purchasing an additional 917 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Robinhood Markets by 4.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock worth $310,000 after purchasing an additional 1,060 shares in the last quarter. 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.