Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $43.00 at Morgan Stanley

Robinhood Markets (NASDAQ:HOOD) had its price target hoisted by Morgan Stanley from $40.00 to $43.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also commented on the company. Compass Point assumed coverage on Robinhood Markets in a research report on Wednesday, March 19th. They set a “buy” rating and a $61.00 price target on the stock. KeyCorp lowered their target price on Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $60.00 price objective on shares of Robinhood Markets in a research report on Thursday, March 27th. Finally, Wolfe Research downgraded shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and a consensus price target of $55.41.

Robinhood Markets Trading Down 1.2%

Shares of HOOD opened at $60.68 on Tuesday. The stock has a market cap of $53.73 billion, a PE ratio of 38.65, a PEG ratio of 1.05 and a beta of 2.15. Robinhood Markets has a 1 year low of $13.98 and a 1 year high of $66.91. The stock has a 50 day simple moving average of $44.76 and a 200-day simple moving average of $43.31.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The firm had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same period in the previous year, the company posted $0.18 EPS. The firm’s revenue for the quarter was up 50.0% compared to the same quarter last year. On average, sell-side analysts forecast that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Baiju Bhatt sold 223,528 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $43.21, for a total value of $9,658,644.88. Following the completion of the sale, the director now owns 5,042 shares of the company’s stock, valued at $217,864.82. This represents a 97.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,947,622 shares of company stock valued at $89,994,656 over the last ninety days. Insiders own 14.47% of the company’s stock.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc grew its holdings in Robinhood Markets by 601.1% during the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock valued at $164,000 after purchasing an additional 3,769 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after buying an additional 138,267 shares during the period. Atomi Financial Group Inc. grew its holdings in shares of Robinhood Markets by 20.7% in the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after buying an additional 92,613 shares during the period. Requisite Capital Management LLC bought a new stake in shares of Robinhood Markets in the 4th quarter valued at $266,000. Finally, Aigen Investment Management LP raised its stake in Robinhood Markets by 161.2% during the 4th quarter. Aigen Investment Management LP now owns 85,868 shares of the company’s stock worth $3,199,000 after buying an additional 52,988 shares during the period. 93.27% of the stock is owned by institutional investors.

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.