Morgan Stanley Boosts Robinhood Markets (NASDAQ:HOOD) Price Target to $22.00

Robinhood Markets (NASDAQ:HOOD) had its price objective hoisted by equities researchers at Morgan Stanley from $21.00 to $22.00 in a report released on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 16.70% from the company’s current price.

A number of other research firms have also recently issued reports on HOOD. JMP Securities restated a “market outperform” rating and set a $30.00 target price on shares of Robinhood Markets in a research note on Thursday, August 8th. Barclays boosted their price objective on Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Citigroup increased their target price on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a research note on Thursday, August 8th. Finally, Wolfe Research upgraded Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective on the stock in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $24.43.

Robinhood Markets Price Performance

HOOD stock traded down $0.52 during trading hours on Thursday, reaching $26.41. 2,573,876 shares of the stock were exchanged, compared to its average volume of 15,473,183. The firm’s 50-day moving average is $21.68 and its 200-day moving average is $20.74. The company has a market cap of $23.21 billion, a price-to-earnings ratio of 176.07 and a beta of 1.84. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $27.33.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping 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 business had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same period in the previous year, the firm earned $0.03 EPS. The firm’s revenue was up 40.3% compared to the same quarter last year. As a group, equities research analysts forecast that Robinhood Markets will post 0.76 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other news, Director Meyer Malka sold 3,225,806 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the transaction, the director now owns 29,357,336 shares of the company’s stock, valued at $735,988,413.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Robinhood Markets news, Director Meyer Malka sold 3,225,806 shares of Robinhood Markets stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the completion of the transaction, the director now owns 29,357,336 shares in the company, valued at approximately $735,988,413.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’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 disclosure for this sale can be found here. Insiders have sold 4,541,250 shares of company stock worth $107,643,767 in the last quarter. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its stake in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares in the last quarter. ORG Partners LLC bought a new position in Robinhood Markets in the 2nd quarter worth approximately $33,000. ORG Wealth Partners LLC purchased a new position in Robinhood Markets in the 3rd quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC bought a new stake in Robinhood Markets during the 1st quarter valued at $34,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Robinhood Markets in the second quarter valued at $40,000. 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.