Robinhood Markets (NASDAQ:HOOD) PT Raised to $23.00 at Citigroup

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by Citigroup from $19.00 to $23.00 in a report issued on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on HOOD. Piper Sandler increased their price target on shares of Robinhood Markets from $23.00 to $27.00 and gave the company an overweight rating in a research report on Thursday, September 19th. The Goldman Sachs Group raised their target price on Robinhood Markets from $19.00 to $21.00 and gave the stock a neutral rating in a research note on Thursday, July 11th. Barclays upgraded Robinhood Markets from an underweight rating to an equal weight rating and boosted their price target for the company from $18.00 to $20.00 in a report on Friday, September 6th. Needham & Company LLC reiterated a hold rating on shares of Robinhood Markets in a report on Thursday, August 8th. Finally, Keefe, Bruyette & Woods cut their price objective on Robinhood Markets from $23.00 to $22.00 and set a market perform rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $23.63.

Robinhood Markets Trading Down 2.0 %

Shares of NASDAQ:HOOD opened at $23.42 on Friday. The stock has a market capitalization of $20.58 billion, a P/E ratio of 156.13 and a beta of 1.82. The stock’s 50-day moving average price is $20.49 and its 200-day moving average price is $20.25. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period last year, the company earned $0.03 EPS. As a group, research analysts predict that Robinhood Markets will post 0.76 EPS for the current year.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total value of $285,000.00. Following the completion of the transaction, the insider now directly owns 956,247 shares in the company, valued at approximately $21,802,431.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total value of $285,000.00. Following the sale, the insider now directly owns 956,247 shares of the company’s stock, valued at approximately $21,802,431.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 139,916 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $19.55, for a total value of $2,735,357.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,204,096 shares of company stock worth $23,603,793. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position 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 purchasing an additional 1,003,535 shares during the last quarter. Banque Cantonale Vaudoise grew its holdings in shares of Robinhood Markets by 21,404.0% during the first quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock valued at $1,948,000 after buying an additional 96,318 shares during the last quarter. UniSuper Management Pty Ltd increased its position in shares of Robinhood Markets by 87.1% during 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. Wellington Management Group LLP purchased a new position in Robinhood Markets in the 4th quarter worth approximately $8,299,000. Finally, O Neil Global Advisors Inc. purchased a new position in Robinhood Markets in the 2nd quarter worth approximately $2,298,000. 93.27% of the stock is currently 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.