Piper Sandler Raises Robinhood Markets (NASDAQ:HOOD) Price Target to $17.00

Robinhood Markets (NASDAQ:HOOD) had its price target lifted by Piper Sandler from $12.50 to $17.00 in a research report sent to investors on Friday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other research firms have also recently issued reports on HOOD. JMP Securities boosted their price objective on shares of Robinhood Markets from $25.00 to $28.00 and gave the company a market outperform rating in a research report on Tuesday, April 9th. TheStreet raised Robinhood Markets from a d+ rating to a c- rating in a research report on Wednesday, February 28th. Morgan Stanley upped their price target on shares of Robinhood Markets from $11.00 to $18.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. increased their target price on Robinhood Markets from $10.00 to $12.00 and gave the company an underweight rating in a research note on Wednesday, February 14th. Finally, KeyCorp raised their price target on shares of Robinhood Markets from $15.00 to $22.00 and gave the company an overweight rating in a report on Thursday, March 28th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $18.15.

Robinhood Markets Trading Down 5.4 %

Shares of NASDAQ:HOOD opened at $17.97 on Friday. The stock’s 50-day moving average price is $16.33 and its 200-day moving average price is $12.44. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $20.55. The stock has a market capitalization of $15.72 billion, a P/E ratio of -29.95 and a beta of 1.69.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The firm had revenue of $471.00 million during the quarter, compared to analyst estimates of $454.73 million. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, research analysts predict that Robinhood Markets will post 0.29 EPS for the current year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, February 5th. The shares were sold at an average price of $10.61, for a total transaction of $2,652,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $10.61, for a total transaction of $2,652,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven M. Quirk sold 60,895 shares of Robinhood Markets stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $14.43, for a total value of $878,714.85. Following the completion of the sale, the insider now directly owns 350,769 shares in the company, valued at $5,061,596.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,212,150 shares of company stock worth $33,495,819. 20.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Robinhood Markets by 4.5% during the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after purchasing an additional 2,459,702 shares in the last quarter. ARK Investment Management LLC lifted its holdings in shares of Robinhood Markets by 6.4% in the 4th quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock valued at $445,087,000 after acquiring an additional 2,101,325 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Robinhood Markets by 9.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock worth $372,081,000 after acquiring an additional 2,517,012 shares in the last quarter. Nikko Asset Management Americas Inc. increased its stake in Robinhood Markets by 9.6% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock worth $360,514,000 after acquiring an additional 2,486,986 shares during the last quarter. Finally, BlackRock Inc. raised its position in Robinhood Markets by 4.1% during the second quarter. BlackRock Inc. now owns 23,981,614 shares of the company’s stock valued at $239,337,000 after purchasing an additional 943,515 shares during the period. 93.27% of the stock is currently owned by institutional investors.

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.