Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $90.00 at Morgan Stanley

Robinhood Markets (NASDAQ:HOOD) had its target price upped by Morgan Stanley from $64.00 to $90.00 in a research note released on Thursday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other equities analysts also recently weighed in on HOOD. KeyCorp boosted their price target on Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft increased their price target on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Piper Sandler upped their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Keefe, Bruyette & Woods raised their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Finally, Citigroup upped their price target on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $58.07.

Robinhood Markets Trading Up 2.3 %

NASDAQ HOOD opened at $65.28 on Thursday. Robinhood Markets has a 12 month low of $13.04 and a 12 month high of $66.91. The stock has a 50 day moving average of $45.45 and a 200-day moving average of $32.52. The company has a market cap of $57.71 billion, a PE ratio of 110.65, a PEG ratio of 0.73 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. As a group, sell-side analysts predict that Robinhood Markets will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the 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 sale, the chief technology officer now owns 11,752 shares in the company, valued at $445,635.84. The trade was a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,948,427 shares of company stock valued at $165,005,244 in the last three months. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its stake in shares of Robinhood Markets by 31.1% in the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after purchasing an additional 16,219 shares during the last quarter. Everence Capital Management Inc. bought a new position in Robinhood Markets in the fourth quarter valued at about $634,000. Atomi Financial Group Inc. grew its position in Robinhood Markets by 20.7% in the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after acquiring an additional 92,613 shares during the last quarter. Requisite Capital Management LLC acquired a new position in Robinhood Markets during the fourth quarter worth about $266,000. Finally, Baker Avenue Asset Management LP lifted its holdings in shares of Robinhood Markets by 77.9% in the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after acquiring an additional 203,354 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

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.