Robinhood Markets (NASDAQ:HOOD) Rating Increased to Moderate Buy at Dbs Bank

Dbs Bank upgraded shares of Robinhood Markets (NASDAQ:HOOD) to a moderate buy rating in a research note released on Wednesday morning,Zacks.com reports.

HOOD has been the subject of a number of other reports. Morgan Stanley increased their price target on Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. JMP Securities upped their price objective on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, October 9th. Zacks Research lowered Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Robinhood Markets in a research note on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 price target (up previously from $120.00) on shares of Robinhood Markets in a report on Tuesday, September 23rd. Fifteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.65.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD traded up $0.97 during midday trading on Wednesday, reaching $122.50. 31,979,812 shares of the company traded hands, compared to its average volume of 27,116,374. The company has a market cap of $110.15 billion, a price-to-earnings ratio of 50.83, a PEG ratio of 2.78 and a beta of 2.42. The stock has a 50-day moving average price of $132.81 and a 200 day moving average price of $102.40. Robinhood Markets has a 52 week low of $29.66 and a 52 week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.41 by $0.20. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. Robinhood Markets’s quarterly revenue was up 100.0% on a year-over-year basis. During the same quarter last year, the company earned $0.17 EPS. As a group, analysts expect that Robinhood Markets will post 1.35 EPS for the current year.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Quirk sold 60,113 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total value of $6,066,002.83. Following the completion of the sale, the insider directly owned 94,454 shares of the company’s stock, valued at approximately $9,531,353.14. The trade was a 38.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 4,297,404 shares of company stock valued at $529,026,559. Corporate insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. grew its holdings in shares of Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after purchasing an additional 148 shares during the last quarter. Hemington Wealth Management lifted its stake in Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 218 shares during the period. Valley National Advisers Inc. boosted its stake in Robinhood Markets by 113.6% during the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Golden State Wealth Management LLC boosted its position in shares of Robinhood Markets by 107.6% during the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Finally, Smithfield Trust Co acquired a new position in Robinhood Markets in the second quarter valued at about $29,000. Institutional investors and hedge funds 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.