JPMorgan Chase & Co. Issues Positive Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD) had its target price raised by JPMorgan Chase & Co. from $39.00 to $45.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. KeyCorp raised their price target on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday. Sanford C. Bernstein upped their price objective on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Finally, Morgan Stanley raised their target price on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.07.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $63.80 on Thursday. The firm has a market cap of $56.40 billion, a price-to-earnings ratio of 108.14, a PEG ratio of 0.73 and a beta of 2.13. Robinhood Markets has a 1 year low of $12.77 and a 1 year high of $66.91. The stock’s 50-day simple moving average is $44.98 and its 200-day simple moving average is $32.13.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. As a group, research analysts predict that Robinhood Markets will post 0.97 EPS for the current year.

Insider Activity

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total transaction of $477,750.00. Following the completion of the sale, the insider now owns 1,106,955 shares in the company, valued at approximately $42,307,820.10. This represents a 1.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction on Friday, December 20th. The stock was sold at an average price of $37.92, for a total value of $222,817.92. Following the completion of the transaction, the chief technology officer now owns 11,752 shares in the company, valued at $445,635.84. The trade was a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,948,427 shares of company stock worth $165,005,244. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank raised its holdings 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 acquiring an additional 16,219 shares during the period. Everence Capital Management Inc. purchased a new position in Robinhood Markets during the 4th quarter worth approximately $634,000. Atomi Financial Group Inc. raised its stake in Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after purchasing an additional 92,613 shares during the period. Requisite Capital Management LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at $266,000. Finally, Baker Avenue Asset Management LP boosted its position in shares of Robinhood Markets by 77.9% in the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after buying an additional 203,354 shares during the period. 93.27% of the stock is owned by hedge funds and other 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.