Robinhood Markets (NASDAQ:HOOD) PT Raised to $27.00 at Deutsche Bank Aktiengesellschaft

Robinhood Markets (NASDAQ:HOOD) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $24.00 to $27.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also commented on HOOD. KeyCorp boosted their target price on shares of Robinhood Markets from $23.00 to $25.00 and gave the company an overweight rating in a research note on Friday, July 19th. JMP Securities reiterated a market outperform rating and issued a $30.00 price objective on shares of Robinhood Markets in a research note on Thursday, August 8th. Citigroup raised their target price on Robinhood Markets from $19.00 to $23.00 and gave the stock a neutral rating in a research report on Friday, September 27th. JPMorgan Chase & Co. upped 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. Finally, Morgan Stanley increased their price target on Robinhood Markets from $20.00 to $21.00 and gave the stock an equal weight rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $23.63.

Robinhood Markets Price Performance

HOOD opened at $22.43 on Monday. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $24.88. The company has a market capitalization of $19.71 billion, a price-to-earnings ratio of 149.53 and a beta of 1.84. The firm’s fifty day moving average price is $20.50 and its two-hundred day moving average price is $20.30.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The business 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 4.25% and a net margin of 12.96%. Robinhood Markets’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share. As a group, equities analysts anticipate that Robinhood Markets will post 0.76 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 120,236 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $22.20, for a total value of $2,669,239.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 120,236 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $22.20, for a total transaction of $2,669,239.20. The disclosure for this sale can be found here. Insiders sold a total of 964,889 shares of company stock valued at $18,239,315 in the last three months. Company insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its position in Robinhood Markets by 234.6% during the third quarter. SG Americas Securities LLC now owns 35,957 shares of the company’s stock valued at $842,000 after purchasing an additional 25,210 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Robinhood Markets during the 3rd quarter valued at about $714,000. Centaurus Financial Inc. bought a new stake in Robinhood Markets in the 2nd quarter worth approximately $200,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Robinhood Markets during the second quarter valued at approximately $2,271,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Robinhood Markets during the second quarter worth approximately $996,000. 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.