Robinhood Markets (NASDAQ:HOOD) Price Target Cut to $11.00

Robinhood Markets (NASDAQ:HOODGet Rating) had its price objective lowered by equities researchers at KeyCorp from $12.00 to $11.00 in a report released on Monday, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 19.18% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Piper Sandler dropped their target price on shares of Robinhood Markets from $13.00 to $11.00 in a report on Friday, April 29th. JMP Securities dropped their target price on shares of Robinhood Markets from $36.00 to $28.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 12th. Mizuho dropped their target price on shares of Robinhood Markets from $19.00 to $14.00 in a report on Monday, May 2nd. Wolfe Research dropped their target price on shares of Robinhood Markets from $15.00 to $10.00 in a report on Friday, April 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Robinhood Markets from $11.00 to $7.00 in a report on Tuesday, June 14th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.26.

Robinhood Markets Stock Up 2.1 %

NASDAQ:HOOD opened at $9.23 on Monday. The stock has a market cap of $8.05 billion and a P/E ratio of -0.84. The firm’s fifty day simple moving average is $8.59 and its 200 day simple moving average is $10.80. Robinhood Markets has a twelve month low of $6.81 and a twelve month high of $85.00.

Insiders Place Their Bets

In other Robinhood Markets news, Director Scott D. Sandell sold 8,792 shares of the business’s stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $8.41, for a total value of $73,940.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Scott D. Sandell sold 8,792 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $8.41, for a total transaction of $73,940.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 27,181 shares of the company’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $9.93, for a total transaction of $269,907.33. Following the sale, the insider now directly owns 257,316 shares of the company’s stock, valued at approximately $2,555,147.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,973 shares of company stock valued at $888,448.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at about $27,000. Covestor Ltd bought a new position in shares of Robinhood Markets during the 1st quarter valued at approximately $28,000. Prospera Financial Services Inc bought a new position in shares of Robinhood Markets during the 1st quarter valued at approximately $29,000. CWM LLC bought a new position in shares of Robinhood Markets during the 2nd quarter valued at approximately $33,000. Finally, Kellogg W K Foundation Trust bought a new position in shares of Robinhood Markets during the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 64.46% of the company’s stock.

About Robinhood Markets

(Get Rating)

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron's, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade.

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