Robinhood Markets (NASDAQ:HOOD) Given New $146.00 Price Target at Morgan Stanley

Robinhood Markets (NASDAQ:HOOD) had its price objective hoisted by Morgan Stanley from $110.00 to $146.00 in a report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

HOOD has been the topic of a number of other research reports. Redburn Atlantic restated a “sell” rating and set a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. JMP Securities raised their price target on Robinhood Markets from $125.00 to $130.00 and gave the company a “market outperform” rating in a report on Thursday, July 31st. The Goldman Sachs Group increased their target price on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday. KeyCorp lifted their target price on Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Finally, Keefe, Bruyette & Woods upped their price target on Robinhood Markets from $89.00 to $106.00 and gave the stock a “market perform” rating in a research note on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $110.88.

Robinhood Markets Stock Down 2.8%

NASDAQ HOOD opened at $139.14 on Wednesday. Robinhood Markets has a 52 week low of $22.05 and a 52 week high of $143.62. The company has a market capitalization of $123.65 billion, a P/E ratio of 70.63, a price-to-earnings-growth ratio of 5.10 and a beta of 2.42. The stock’s 50-day moving average price is $112.70 and its 200-day moving average price is $80.86.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. During the same period in the prior year, the firm posted $0.21 EPS. The firm’s quarterly revenue was up 45.0% compared to the same quarter last year. Research analysts anticipate that Robinhood Markets will post 1.35 EPS for the current year.

Insider Activity

In related news, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the transaction, the director owned 3,976,234 shares of the company’s stock, valued at approximately $413,011,425.58. This trade represents a 21.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 60,113 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares in the company, valued at $9,531,353.14. The trade was a 38.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,906,462 shares of company stock worth $509,427,417. 14.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP purchased a new stake in Robinhood Markets in the fourth quarter worth $588,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Robinhood Markets by 139.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock valued at $36,000 after purchasing an additional 498 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Robinhood Markets by 5,733.0% during the first quarter. GAMMA Investing LLC now owns 341,700 shares of the company’s stock worth $14,222,000 after buying an additional 335,842 shares during the period. Parallel Advisors LLC boosted its position in Robinhood Markets by 19.1% during the first quarter. Parallel Advisors LLC now owns 3,798 shares of the company’s stock valued at $158,000 after purchasing an additional 609 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Robinhood Markets by 5.0% in the 1st quarter. Rhumbline Advisers now owns 784,187 shares of the company’s stock valued at $32,638,000 after buying an additional 37,640 shares in the last quarter. Institutional investors 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.