Deutsche Bank Aktiengesellschaft Increases Robinhood Markets (NASDAQ:HOOD) Price Target to $32.00

Robinhood Markets (NASDAQ:HOOD) had its target price boosted by Deutsche Bank Aktiengesellschaft from $27.00 to $32.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also commented on HOOD. Piper Sandler boosted their price target on Robinhood Markets from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Bank of America upped their target price 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. KeyCorp lifted their price target on shares of Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Morgan Stanley upped their price objective on shares of Robinhood Markets from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, The Goldman Sachs Group dropped their target price on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. One equities 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.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.10.

Robinhood Markets Stock Up 1.0 %

HOOD opened at $32.22 on Monday. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $34.32. The company has a 50 day moving average of $25.20 and a two-hundred day moving average of $22.19. The company has a market cap of $28.48 billion, a P/E ratio of 54.61, a P/E/G ratio of 0.76 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Research analysts anticipate that Robinhood Markets will post 0.72 earnings per share for the current year.

Insider Activity

In other news, Director Meyer Malka sold 105,875 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total transaction of $3,176,250.00. Following the completion of the transaction, the director now owns 28,930,243 shares in the company, valued at approximately $867,907,290. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason Warnick sold 25,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $20.96, for a total transaction of $524,000.00. Following the completion of the transaction, the chief financial officer now owns 1,077,162 shares of the company’s stock, valued at approximately $22,577,315.52. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,710,549 shares of company stock valued at $115,477,194. 19.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HOOD. Vanguard Group Inc. raised its stake in shares of Robinhood Markets by 1.8% during the first 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 in the last quarter. FMR LLC raised its position in shares of Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after buying an additional 3,368,118 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after acquiring an additional 2,094,800 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Robinhood Markets by 33.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after acquiring an additional 1,137,677 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Robinhood Markets by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock worth $92,549,000 after purchasing an additional 112,967 shares in the last quarter. Institutional investors and hedge funds 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.