Robinhood Markets (NASDAQ:HOOD) Upgraded to Neutral at JPMorgan Chase & Co.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) was upgraded by investment analysts at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $43.00 price target on the stock, up from their previous price target of $20.00. JPMorgan Chase & Co.'s target price suggests a potential upside of 6.02% from the stock's current price.

HOOD has been the topic of a number of other reports. The Goldman Sachs Group raised Robinhood Markets from a "neutral" rating to a "buy" rating and lifted their target price for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Piper Sandler upped their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an "overweight" rating in a research report on Monday, December 2nd. Morgan Stanley upgraded shares of Robinhood Markets from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $24.00 to $55.00 in a research report on Monday, November 25th. Sanford C. Bernstein increased their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $52.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.67.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD traded down $2.15 during mid-day trading on Tuesday, hitting $40.56. 17,600,861 shares of the stock were exchanged, compared to its average volume of 19,696,400. The company has a market cap of $35.85 billion, a P/E ratio of 68.75, a PEG ratio of 0.81 and a beta of 2.07. Robinhood Markets has a twelve month low of $10.38 and a twelve month high of $43.83. The stock's fifty day simple moving average is $36.07 and its two-hundred day simple moving average is $27.10.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the previous year, the company posted ($0.09) EPS. Robinhood Markets's revenue for the quarter was up 36.4% on a year-over-year basis. As a group, equities research analysts predict that Robinhood Markets will post 0.8 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the business's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $40.45, for a total value of $4,045,000.00. Following the completion of the sale, the insider now owns 731,642 shares of the company's stock, valued at approximately $29,594,918.90. The trade was a 12.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $37.92, for a total transaction of $222,817.92. Following the completion of the sale, the chief technology officer now owns 11,752 shares of the company's stock, valued at $445,635.84. This trade represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,702,320 shares of company stock valued at $138,594,491. 19.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HOOD. HM Payson & Co. increased its holdings in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company's stock valued at $28,000 after buying an additional 410 shares during the period. Eastern Bank bought a new position in Robinhood Markets in the third quarter valued at approximately $30,000. True Wealth Design LLC acquired a new position in Robinhood Markets during the third quarter valued at approximately $30,000. ORG Wealth Partners LLC acquired a new position in Robinhood Markets during the third quarter valued at approximately $33,000. Finally, Connective Portfolio Management LLC acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at $47,000. Institutional investors and hedge funds 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.