Robinhood Markets (NASDAQ:HOOD) Price Target Increased to $23.00 by Analysts at Citigroup

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

Other research analysts have also recently issued reports about the company. Needham & Company LLC reissued a hold rating on shares of Robinhood Markets in a research report on Thursday, August 8th. KeyCorp increased their price objective on shares of Robinhood Markets from $23.00 to $25.00 and gave the stock an overweight rating in a research note on Friday, July 19th. JMP Securities restated a market outperform rating and set a $30.00 target price on shares of Robinhood Markets in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft raised shares of Robinhood Markets from a hold rating to a buy rating and upped their target price for the company from $21.00 to $24.00 in a report on Thursday, August 15th. Finally, Barclays upgraded shares of Robinhood Markets from an underweight rating to an equal weight rating and lifted their price target for the stock from $18.00 to $20.00 in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $23.63.

Robinhood Markets Stock Down 2.0 %

Shares of NASDAQ HOOD opened at $23.42 on Friday. The firm’s 50-day moving average price is $20.49 and its 200-day moving average price is $20.25. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $24.88. The company has a market cap of $20.58 billion, a PE ratio of 156.13 and a beta of 1.82.

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

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason Warnick sold 25,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $20.96, for a total value of $524,000.00. Following the sale, the chief financial officer now owns 1,077,162 shares of the company’s stock, valued at approximately $22,577,315.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,204,096 shares of company stock valued at $23,603,793. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of HOOD. Renaissance Technologies LLC grew its stake in Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after acquiring an additional 2,094,800 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Robinhood Markets by 169.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock valued at $40,092,000 after purchasing an additional 1,251,495 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Robinhood Markets by 274.7% during the second quarter. AQR Capital Management LLC now owns 1,661,824 shares of the company’s stock valued at $37,341,000 after purchasing an additional 1,218,317 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Robinhood Markets by 7,622.2% in the second quarter. Acadian Asset Management LLC now owns 1,040,877 shares of the company’s stock worth $23,625,000 after purchasing an additional 1,027,398 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Robinhood Markets by 1.8% in the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock worth $1,143,960,000 after buying an additional 1,003,535 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

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.