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 report published on Monday, MarketBeat.com reports. Morgan Stanley currently has $55.00 price target on the stock, up from their prior price target of $24.00.

Other research analysts have also recently issued reports about the stock. Piper Sandler lifted their price objective on shares of Robinhood Markets from $30.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Barclays lifted their price target on Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods lowered their price objective on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC raised Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, November 18th. Finally, KeyCorp upped their price target on Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $30.59.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $37.65 on Monday. Robinhood Markets has a 52-week low of $8.35 and a 52-week high of $39.74. The business’s 50 day simple moving average is $27.55 and its two-hundred day simple moving average is $23.29. The firm has a market cap of $33.28 billion, a P/E ratio of 64.27, a PEG ratio of 0.88 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. Robinhood Markets’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share. On average, equities analysts forecast that Robinhood Markets will post 0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the transaction, the insider now owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. This represents a 1.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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. Over the last 90 days, insiders have sold 4,685,549 shares of company stock valued at $114,953,194. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Several hedge funds and other institutional investors have recently modified their holdings of HOOD. Franklin Resources Inc. purchased a new position in shares of Robinhood Markets in the third quarter valued at $6,321,000. Wilmington Savings Fund Society FSB purchased a new position in Robinhood Markets during the 3rd quarter valued at about $351,000. Sanctuary Advisors LLC increased its position in shares of Robinhood Markets by 44.1% during the third quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company’s stock valued at $1,481,000 after buying an additional 19,345 shares during the period. Toronto Dominion Bank increased its position in shares of Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after buying an additional 16,219 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of 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 buying an additional 1,895,427 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

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.