Robinhood Markets, Inc. (NASDAQ:HOOD) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have been given a consensus rating of “Moderate Buy” by the fifteen research firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $43.73.

Several brokerages recently commented on HOOD. Citigroup lifted their target price on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Barclays increased their target price on Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Piper Sandler lifted their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. JMP Securities increased their price objective on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $46.00 in a research report on Friday, December 6th.

Robinhood Markets Trading Up 3.6 %

Shares of Robinhood Markets stock opened at $53.00 on Friday. Robinhood Markets has a 1 year low of $10.51 and a 1 year high of $53.51. The company has a market cap of $46.85 billion, a P/E ratio of 89.83, a P/E/G ratio of 0.67 and a beta of 2.07. The stock has a 50-day moving average price of $41.58 and a 200 day moving average price of $29.90.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly 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 firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. On average, equities analysts forecast that Robinhood Markets will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 108,964 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $24.92, for a total transaction of $2,715,382.88. Following the completion of the sale, the director now owns 2,521 shares of the company’s stock, valued at approximately $62,823.32. This represents a 97.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,297,400 shares of company stock worth $170,630,852. Insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. bought a new stake in shares of Robinhood Markets during the second quarter worth $486,000. Sei Investments Co. increased its holdings in Robinhood Markets by 64.1% during the 2nd quarter. Sei Investments Co. now owns 61,754 shares of the company’s stock worth $1,402,000 after purchasing an additional 24,129 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Robinhood Markets by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 139,902 shares of the company’s stock valued at $3,177,000 after purchasing an additional 11,146 shares during the period. Creative Planning lifted its holdings in shares of Robinhood Markets by 142.8% in the second quarter. Creative Planning now owns 26,290 shares of the company’s stock valued at $597,000 after purchasing an additional 15,464 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Robinhood Markets by 58,832.8% during the second quarter. NewEdge Advisors LLC now owns 39,485 shares of the company’s stock worth $897,000 after buying an additional 39,418 shares during the period. 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.