Robinhood Markets, Inc. (NASDAQ:HOOD) Receives $39.20 Average PT from Analysts

Robinhood Markets, Inc. (NASDAQ:HOOD) has been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $42.13.

HOOD has been the topic of several research reports. Piper Sandler upped their target price on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Citigroup raised their target price on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a report on Friday. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. KeyCorp raised their price objective on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $24.00 to $55.00 in a research report on Monday, November 25th.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $40.08 on Monday. Robinhood Markets has a one year low of $10.38 and a one year high of $43.83. The firm has a fifty day moving average of $36.99 and a two-hundred day moving average of $27.42. The company has a market cap of $35.43 billion, a P/E ratio of 67.93, a PEG ratio of 0.81 and a beta of 2.07.

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

Insider Transactions at Robinhood Markets

In related news, Director Meyer Malka sold 1,535,681 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the transaction, the director now directly owns 4,974,238 shares of the company’s stock, valued at approximately $199,516,686.18. The trade was a 23.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 98,404 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the completion of the transaction, the director now owns 2,521 shares of the company’s stock, valued at $66,554.40. This trade represents a 97.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,708,196 shares of company stock valued at $138,845,043 over the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Central Pacific Bank Trust Division grew its stake in Robinhood Markets by 5.9% in the fourth quarter. Central Pacific Bank Trust Division now owns 32,301 shares of the company’s stock worth $1,204,000 after purchasing an additional 1,812 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Robinhood Markets in the 4th quarter worth approximately $634,000. GAMMA Investing LLC increased its holdings in shares of Robinhood Markets by 49.3% in the 4th quarter. GAMMA Investing LLC now owns 5,858 shares of the company’s stock valued at $218,000 after acquiring an additional 1,935 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Robinhood Markets by 6,799.1% during the 4th quarter. Versant Capital Management Inc now owns 22,974 shares of the company’s stock valued at $856,000 after acquiring an additional 22,641 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC bought a new position in Robinhood Markets during the third quarter worth $263,000. 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.