Brokerages Set Robinhood Markets, Inc. (NASDAQ:HOOD) PT at $61.29

Robinhood Markets, Inc. (NASDAQ:HOOD) has been given a consensus rating of “Moderate Buy” by the eighteen brokerages that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $61.29.

Several analysts have issued reports on the company. Piper Sandler lifted their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Barclays lifted their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods upped their price target on Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Compass Point began coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They set a “buy” rating and a $61.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $48.36 on Friday. Robinhood Markets has a 52 week low of $13.98 and a 52 week high of $66.91. The company’s 50 day moving average price is $49.22 and its two-hundred day moving average price is $37.61. The company has a market capitalization of $42.82 billion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Analysts forecast that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction that occurred on 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 document filed with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 2,685,104 shares of company stock worth $131,233,346. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in shares of Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares during the period. Norges Bank bought a new position in shares of Robinhood Markets in the fourth quarter worth about $329,598,000. GQG Partners LLC acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership bought a new stake in shares of Robinhood Markets during the 4th quarter valued at approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Robinhood Markets by 335.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock valued at $193,202,000 after purchasing an additional 3,994,745 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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), 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.