KeyCorp Boosts Robinhood Markets (NASDAQ:HOOD) Price Target to $23.00

Robinhood Markets (NASDAQ:HOOD) had its target price increased by KeyCorp from $22.00 to $23.00 in a research note released on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other research analysts also recently commented on HOOD. Citigroup downgraded Robinhood Markets from a neutral rating to a sell rating and raised their price objective for the stock from $13.00 to $16.00 in a report on Thursday, April 11th. JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $10.00 to $12.00 and gave the stock an underweight rating in a report on Wednesday, February 14th. Morgan Stanley raised their price objective on Robinhood Markets from $11.00 to $18.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. Mizuho lifted their price target on Robinhood Markets from $17.00 to $20.00 and gave the company a buy rating in a report on Tuesday, March 19th. Finally, The Goldman Sachs Group boosted their price target on Robinhood Markets from $18.00 to $20.00 and gave the stock a neutral rating in a research report on Monday, April 15th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Robinhood Markets presently has an average rating of Hold and a consensus price target of $18.88.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $17.12 on Monday. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $20.55. The firm has a market capitalization of $14.97 billion, a P/E ratio of -28.53 and a beta of 1.69. The stock has a 50 day moving average price of $17.31 and a 200 day moving average price of $12.87.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, topping 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 period last year, the company earned ($0.19) EPS. Robinhood Markets’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Robinhood Markets will post 0.29 EPS for the current year.

Insider Activity at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $10.61, for a total transaction of $132,625.00. Following the transaction, the insider now directly owns 738,291 shares of the company’s stock, valued at approximately $7,833,267.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $10.61, for a total transaction of $132,625.00. Following the sale, the insider now owns 738,291 shares in the company, valued at approximately $7,833,267.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $10.61, for a total value of $2,652,500.00. The disclosure for this sale can be found here. Insiders have sold 2,382,977 shares of company stock valued at $36,496,582 in the last ninety days. Corporate insiders own 20.81% of the company’s stock.

Institutional Trading of Robinhood Markets

Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Robinhood Markets in the fourth quarter worth about $84,165,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Robinhood Markets by 9.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock worth $372,081,000 after purchasing an additional 2,517,012 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its position 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 purchasing an additional 2,486,986 shares in the last quarter. Vanguard Group Inc. boosted its position in Robinhood Markets by 4.5% during the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock worth $561,732,000 after purchasing an additional 2,459,702 shares in the last quarter. Finally, ARK Investment Management LLC boosted its position in Robinhood Markets by 6.4% during the fourth quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock worth $445,087,000 after purchasing an additional 2,101,325 shares in the last quarter. Hedge funds and other 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.