Robinhood Markets (NASDAQ:HOOD) Receives Neutral Rating from Piper Sandler

Piper Sandler reissued their neutral rating on shares of Robinhood Markets (NASDAQ:HOOD) in a research note published on Thursday, Benzinga reports. The firm currently has a $20.00 price objective on the stock.

HOOD has been the subject of a number of other research reports. Barclays upped their price objective on Robinhood Markets from $18.00 to $20.00 and gave the company an underweight rating in a report on Wednesday, July 10th. KeyCorp boosted their target price on Robinhood Markets from $23.00 to $25.00 and gave the company an overweight rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $19.00 to $20.00 and gave the company a hold rating in a research note on Thursday, June 20th. Bank of America raised Robinhood Markets from an underperform rating to a buy rating and boosted their target price for the company from $14.00 to $24.00 in a research note on Friday, May 17th. Finally, The Goldman Sachs Group boosted their target price on Robinhood Markets from $19.00 to $21.00 and gave the company a neutral rating in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets has an average rating of Hold and a consensus price target of $21.70.

Robinhood Markets Stock Up 1.1 %

NASDAQ HOOD traded up $0.19 on Thursday, reaching $17.92. The company had a trading volume of 17,345,932 shares, compared to its average volume of 16,360,838. The stock’s 50 day moving average is $21.73 and its 200-day moving average is $18.42. The stock has a market cap of $15.75 billion, a price-to-earnings ratio of 119.47 and a beta of 1.83. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $24.88.

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

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 250,000 shares of the company’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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Vladimir Tenev sold 250,000 shares of the company’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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 16,667 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $18.27, for a total value of $304,506.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,247,913 shares of company stock worth $25,680,423. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently bought and sold shares of the business. Spire Wealth Management bought a new stake in Robinhood Markets in the fourth quarter valued at approximately $26,000. PNC Financial Services Group Inc. raised its stake in Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the period. ORG Partners LLC bought a new stake in Robinhood Markets in the second quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC bought a new stake in Robinhood Markets in the first quarter valued at approximately $34,000. Finally, International Assets Investment Management LLC bought a new stake in Robinhood Markets in the second quarter valued at approximately $40,000. Institutional investors 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.