Robinhood Markets (NASDAQ:HOOD) Coverage Initiated at Raymond James

Analysts at Raymond James started coverage on shares of Robinhood Markets (NASDAQ:HOOD) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set a “market perform” rating on the stock.

Several other research analysts have also recently weighed in on the company. Citigroup boosted their price objective on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $20.00 to $43.00 in a research report on Tuesday, January 7th. Morgan Stanley boosted their price objective on Robinhood Markets from $55.00 to $64.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. KeyCorp boosted their price objective on Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.73.

Robinhood Markets Stock Down 1.9 %

Shares of NASDAQ:HOOD opened at $53.17 on Wednesday. The stock has a market cap of $47.00 billion, a price-to-earnings ratio of 90.12, a PEG ratio of 0.70 and a beta of 2.13. Robinhood Markets has a 12-month low of $10.64 and a 12-month high of $54.88. The business’s 50 day moving average is $43.13 and its 200 day moving average is $30.91.

Insider Activity at Robinhood Markets

In related news, Director Meyer Malka sold 1,535,681 shares of the business’s stock in a transaction 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 sale, the director now directly owns 4,974,238 shares in the company, valued at approximately $199,516,686.18. The trade was a 23.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,857,561 shares of company stock worth $159,976,719. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. increased its stake in Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after acquiring an additional 277 shares during the last quarter. HM Payson & Co. increased its stake in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares during the last quarter. Commerce Bank increased its stake in Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after acquiring an additional 423 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Robinhood Markets by 16.5% in the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after purchasing an additional 487 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in shares of Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after purchasing an additional 549 shares in the last quarter. 93.27% of the stock is currently 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.