Barclays Boosts Robinhood Markets (NASDAQ:HOOD) Price Target to $26.00

Robinhood Markets (NASDAQ:HOOD) had its price target boosted by Barclays from $23.00 to $26.00 in a research note released on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other research analysts have also recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price objective on shares of Robinhood Markets in a research report on Thursday, August 8th. Citigroup upped their price target on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a report on Thursday. Keefe, Bruyette & Woods reduced their price objective on shares of 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. One investment 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $25.37.

Robinhood Markets Price Performance

Shares of HOOD stock traded up $0.07 during trading hours on Thursday, reaching $23.56. 11,304,547 shares of the stock were exchanged, compared to its average volume of 15,520,659. The business’s fifty day moving average is $23.39 and its two-hundred day moving average is $21.35. The firm has a market capitalization of $20.84 billion, a P/E ratio of 40.14 and a beta of 1.84. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $28.58.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.61%. Robinhood Markets’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) earnings per share. As a group, equities research analysts predict that Robinhood Markets will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the business’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 transaction of $4,012,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Robinhood Markets news, Director Baiju Bhatt sold 98,404 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the completion of the transaction, the director now directly owns 2,521 shares in the company, valued at approximately $66,554.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s 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. Over the last three months, insiders sold 4,639,654 shares of company stock valued at $110,241,632. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HOOD. Vanguard Group Inc. grew its holdings in Robinhood Markets by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after buying an additional 1,003,535 shares during the last quarter. UniSuper Management Pty Ltd lifted 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 acquiring an additional 2,700 shares in the last quarter. O Neil Global Advisors Inc. acquired a new stake in shares of Robinhood Markets during the second quarter valued at $2,298,000. SG Americas Securities LLC increased its position in Robinhood Markets by 62.5% during the 1st quarter. SG Americas Securities LLC now owns 283,684 shares of the company’s stock worth $5,711,000 after purchasing an additional 109,059 shares in the last quarter. Finally, LifePro Asset Management acquired a new position in Robinhood Markets in the 3rd quarter valued at about $1,677,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.