Robinhood Markets (NASDAQ:HOOD) Rating Increased to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Robinhood Markets (NASDAQ:HOOD) from an equal weight rating to an overweight rating in a research report released on Monday, Marketbeat.com reports. Morgan Stanley currently has $55.00 price objective on the stock, up from their previous price objective of $24.00.

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. Bank of America upped their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Citigroup raised their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Finally, Barclays boosted their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.59.

Robinhood Markets Stock Up 3.4 %

HOOD opened at $37.65 on Monday. Robinhood Markets has a twelve month low of $8.35 and a twelve month high of $39.74. The company’s 50-day moving average price is $27.84 and its two-hundred day moving average price is $23.39. The stock has a market cap of $33.28 billion, a price-to-earnings ratio of 63.81, a PEG ratio of 0.88 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. During the same quarter in the previous year, the company posted ($0.09) EPS. Robinhood Markets’s revenue for the quarter was up 36.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Robinhood Markets will post 0.74 earnings per share for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the sale, the insider now owns 1,045,068 shares in the company, valued at $20,201,164.44. This trade represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The disclosure for this sale can be found here. Insiders have sold 4,685,549 shares of company stock worth $114,953,194 in the last ninety days. 19.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently modified their holdings of the company. Franklin Resources Inc. bought a new position in Robinhood Markets during the third quarter valued at approximately $6,321,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Robinhood Markets in the 3rd quarter valued at $351,000. Sanctuary Advisors LLC grew its holdings in shares of Robinhood Markets by 44.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company’s stock valued at $1,481,000 after purchasing an additional 19,345 shares during the last quarter. Toronto Dominion Bank raised its position in Robinhood Markets by 31.1% in the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after purchasing an additional 16,219 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after purchasing an additional 1,895,427 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other 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.