Robinhood Markets (NASDAQ:HOOD) PT Lowered to $22.00 at Keefe, Bruyette & Woods

Robinhood Markets (NASDAQ:HOOD) had its price target decreased by Keefe, Bruyette & Woods from $23.00 to $22.00 in a report published on Thursday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Several other brokerages also recently weighed in on HOOD. Deutsche Bank Aktiengesellschaft raised their price target on shares of Robinhood Markets from $19.00 to $20.00 and gave the company a hold rating in a research report on Thursday, June 20th. Morgan Stanley lifted their target price on shares of Robinhood Markets from $18.00 to $19.00 and gave the stock an equal weight rating in a research report on Friday, May 10th. KeyCorp lifted their target price on shares of Robinhood Markets from $23.00 to $25.00 and gave the stock an overweight rating in a research report on Friday, July 19th. Barclays lifted their target price on shares of Robinhood Markets from $18.00 to $20.00 and gave the stock an underweight rating in a research report on Wednesday, July 10th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Robinhood Markets in a research report on Thursday. Two investment 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, the company presently has an average rating of Hold and a consensus price target of $21.70.

Robinhood Markets Stock Performance

Shares of HOOD traded up $0.19 on Thursday, hitting $17.92. 17,345,932 shares of the stock traded hands, compared to its average volume of 16,360,838. The company has a market capitalization of $15.75 billion, a PE ratio of 119.47 and a beta of 1.83. The business has a 50 day simple moving average of $21.73 and a 200 day simple moving average of $18.42. Robinhood Markets has a one year low of $7.91 and a one year high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.05. The company had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The firm’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 earnings per share. On average, equities analysts expect that Robinhood Markets will post 0.57 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total value of $285,000.00. Following the sale, the insider now owns 956,247 shares in the company, valued at approximately $21,802,431.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total value of $285,000.00. Following the sale, the insider now owns 956,247 shares in the company, valued at approximately $21,802,431.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $21.03, for a total transaction of $5,257,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,247,913 shares of company stock worth $25,680,423. 19.95% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

Several hedge funds have recently made changes to their positions in HOOD. Norges Bank purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at about $84,165,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Robinhood Markets by 9.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock valued at $372,081,000 after buying an additional 2,517,012 shares in the last quarter. Nikko Asset Management Americas Inc. grew its holdings in Robinhood Markets by 9.6% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock valued at $360,514,000 after purchasing an additional 2,486,986 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Robinhood Markets by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after purchasing an additional 2,094,800 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Robinhood Markets by 169.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock valued at $40,092,000 after purchasing an additional 1,251,495 shares during the last quarter. 93.27% of the stock is currently 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.