Robinhood Markets (NASDAQ:HOOD) Given New $40.00 Price Target at The Goldman Sachs Group

Robinhood Markets (NASDAQ:HOOD) had its price objective lifted by The Goldman Sachs Group from $25.00 to $40.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

HOOD has been the subject of a number of other reports. 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. Barclays lifted their price target on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. JMP Securities increased their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Morgan Stanley raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $24.00 to $55.00 in a report on Monday, November 25th. Finally, KeyCorp increased their price target on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $33.60.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $37.62 on Monday. The company has a market capitalization of $33.26 billion, a P/E ratio of 65.19, a P/E/G ratio of 0.87 and a beta of 1.84. Robinhood Markets has a 1-year low of $9.33 and a 1-year high of $39.74. The firm’s 50 day simple moving average is $28.43 and its two-hundred day simple moving average is $23.70.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets’s revenue was up 36.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.09) earnings per share. On average, sell-side analysts anticipate that Robinhood Markets will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, insider Steven M. Quirk sold 208,291 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the completion of the transaction, the insider now owns 346,020 shares in the company, valued at $8,643,579.60. The trade was a 37.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $23.42, for a total value of $545,522.06. Following the completion of the sale, the insider now owns 1,070,000 shares in the company, valued at approximately $25,059,400. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,673,049 shares of company stock worth $114,711,569 over the last quarter. Insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HOOD. Baker Avenue Asset Management LP boosted its position in Robinhood Markets by 77.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after buying an additional 203,354 shares during the period. Bridgewater Associates LP boosted its holdings in shares of Robinhood Markets by 100.4% in the third quarter. Bridgewater Associates LP now owns 330,956 shares of the company’s stock valued at $7,751,000 after purchasing an additional 165,791 shares during the period. EULAV Asset Management grew its stake in Robinhood Markets by 22.2% in the third quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock worth $12,881,000 after purchasing an additional 100,000 shares in the last quarter. Blueshift Asset Management LLC increased its holdings in Robinhood Markets by 376.5% during the 3rd quarter. Blueshift Asset Management LLC now owns 144,941 shares of the company’s stock worth $3,395,000 after purchasing an additional 114,525 shares during the period. Finally, Aigen Investment Management LP bought a new stake in Robinhood Markets during the 3rd quarter valued at $770,000. 93.27% of the stock is currently owned by institutional investors.

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.