Robinhood Markets (NASDAQ:HOOD – Get Rating) had its price target lowered by Piper Sandler from $11.00 to $10.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.
A number of other research firms also recently weighed in on HOOD. Morgan Stanley lowered their target price on Robinhood Markets from $14.00 to $11.00 and set an equal weight rating on the stock in a report on Tuesday, July 19th. The Goldman Sachs Group raised Robinhood Markets from a sell rating to a neutral rating and lowered their target price for the company from $11.50 to $9.50 in a report on Monday, June 27th. KeyCorp decreased their price objective on Robinhood Markets from $12.00 to $11.00 and set an overweight rating on the stock in a research note on Monday, August 1st. Mizuho decreased their price objective on Robinhood Markets from $14.00 to $13.00 and set a buy rating on the stock in a research note on Thursday. Finally, Wolfe Research decreased their price objective on Robinhood Markets from $15.00 to $10.00 in a research note on Friday, April 29th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $16.19.
Robinhood Markets Price Performance
HOOD stock opened at $10.40 on Wednesday. Robinhood Markets has a fifty-two week low of $6.81 and a fifty-two week high of $60.88. The business’s 50-day moving average is $8.64 and its two-hundred day moving average is $10.75.
Insider Activity at Robinhood Markets
Hedge Funds Weigh In On Robinhood Markets
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Robinhood Markets by 7,430.5% during the 1st quarter. Vanguard Group Inc. now owns 40,217,187 shares of the company’s stock valued at $543,334,000 after buying an additional 39,683,128 shares in the last quarter. ARK Investment Management LLC grew its holdings in Robinhood Markets by 10.6% during the 2nd quarter. ARK Investment Management LLC now owns 33,556,789 shares of the company’s stock valued at $337,581,000 after buying an additional 3,203,476 shares in the last quarter. Ribbit Capital GP II Ltd. purchased a new position in shares of Robinhood Markets in the 4th quarter worth approximately $470,317,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Robinhood Markets in the 2nd quarter worth approximately $192,352,000. Finally, Nikko Asset Management Americas Inc. boosted its holdings in shares of Robinhood Markets by 2.1% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 23,397,624 shares of the company’s stock worth $190,691,000 after purchasing an additional 472,218 shares during the period. Hedge funds and other institutional investors own 64.46% 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), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron's, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade.
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