Robinhood Markets (NASDAQ:HOOD) Lifted to Buy at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Robinhood Markets (NASDAQ:HOOD) from a hold rating to a buy rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has $24.00 price target on the stock, up from their prior price target of $21.00.

A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. increased their price target on Robinhood Markets from $16.00 to $17.00 and gave the company an underweight rating in a research report on Thursday, August 8th. The Goldman Sachs Group increased their price target on Robinhood Markets from $19.00 to $21.00 and gave the company a neutral rating in a research report on Thursday, July 11th. Barclays lowered their price target on Robinhood Markets from $20.00 to $18.00 and set an underweight rating for the company in a research report on Monday, August 12th. Morgan Stanley increased their price target on Robinhood Markets from $20.00 to $21.00 and gave the company an equal weight rating in a research report on Wednesday, August 14th. Finally, Bank of America increased their price target on Robinhood Markets from $28.00 to $32.00 and gave the company a buy rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $22.70.

Robinhood Markets Stock Up 2.2 %

Shares of NASDAQ:HOOD opened at $19.98 on Thursday. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $24.88. The stock’s 50 day moving average is $21.46 and its 200-day moving average is $18.76. The firm has a market capitalization of $17.56 billion, a price-to-earnings ratio of 133.20 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The company had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. Robinhood Markets’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 earnings per share. Equities research analysts anticipate that Robinhood Markets will post 0.57 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 143,944 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total transaction of $2,696,071.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Baiju Bhatt sold 143,944 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total transaction of $2,696,071.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason Warnick sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $21.25, for a total value of $106,250.00. Following the completion of the transaction, the chief financial officer now owns 1,066,241 shares of the company’s stock, valued at approximately $22,657,621.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,375,190 shares of company stock worth $28,071,988. 19.95% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the business. ORG Partners LLC purchased a new stake in shares of Robinhood Markets in the 2nd quarter valued at about $33,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Robinhood Markets during the 1st quarter valued at about $34,000. International Assets Investment Management LLC bought a new stake in Robinhood Markets in the second quarter valued at approximately $40,000. Opal Wealth Advisors LLC bought a new stake in Robinhood Markets in the second quarter valued at approximately $45,000. Finally, Spire Wealth Management bought a new stake in Robinhood Markets in the fourth quarter valued at approximately $26,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.