Robinhood Markets (NASDAQ:HOOD) Given New $23.00 Price Target at Barclays

Robinhood Markets (NASDAQ:HOOD) had its target price raised by Barclays from $20.00 to $23.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other research analysts also recently issued research reports about the company. Bank of America increased their target price on Robinhood Markets from $28.00 to $32.00 and gave the stock a buy rating in a report on Monday, August 12th. The Goldman Sachs Group increased their target price on Robinhood Markets from $19.00 to $21.00 and gave the stock a neutral rating in a report on Thursday, July 11th. JPMorgan Chase & Co. increased their target price on Robinhood Markets from $16.00 to $17.00 and gave the stock an underweight rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their price target on Robinhood Markets from $24.00 to $27.00 and gave the stock a buy rating in a research report on Monday, September 30th. Finally, Citigroup increased their price target on Robinhood Markets from $19.00 to $23.00 and gave the stock a neutral rating in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $23.83.

Robinhood Markets Stock Performance

Shares of HOOD opened at $23.32 on Monday. The company has a market capitalization of $20.49 billion, a P/E ratio of 155.47 and a beta of 1.84. Robinhood Markets has a one year low of $7.91 and a one year high of $24.88. The stock has a 50-day moving average price of $20.56 and a 200 day moving average price of $20.38.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The firm had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. During the same quarter in the prior year, the business posted $0.03 earnings per share. Robinhood Markets’s revenue for the quarter was up 40.3% on a year-over-year basis. As a group, equities research analysts forecast that Robinhood Markets will post 0.76 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total value of $279,625.00. Following the sale, the insider now directly owns 1,057,500 shares in the company, valued at $23,656,275. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total transaction of $279,625.00. Following the transaction, the insider now directly owns 1,057,500 shares in the company, valued at approximately $23,656,275. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 977,389 shares of company stock worth $18,518,940 in the last three months. 19.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its stake in shares of Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. ORG Partners LLC bought a new stake in shares of Robinhood Markets during the 2nd quarter worth $33,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Robinhood Markets during the 1st quarter worth $34,000. International Assets Investment Management LLC bought a new stake in shares of Robinhood Markets during the 2nd quarter worth $40,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Robinhood Markets during the 2nd quarter worth $45,000. 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.