Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $65.00

Robinhood Markets (NASDAQ:HOOD) had its target price boosted by Mizuho from $60.00 to $65.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. Piper Sandler upped their target price on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Raymond James initiated coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating on the stock. KeyCorp lifted their price target on Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective (up from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Finally, Morgan Stanley upped their target price on Robinhood Markets from $55.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.67.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $55.86 on Friday. The business’s 50-day simple moving average is $43.49 and its two-hundred day simple moving average is $31.26. The company has a market cap of $49.38 billion, a PE ratio of 94.68, a PEG ratio of 0.73 and a beta of 2.13. Robinhood Markets has a fifty-two week low of $11.00 and a fifty-two week high of $55.98.

Insider Activity at Robinhood Markets

In other news, insider Steven M. Quirk sold 19,861 shares of the stock in a transaction that occurred on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the sale, the insider now owns 395,166 shares of the company’s stock, valued at $14,834,531.64. This represents a 4.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,857,561 shares of company stock valued at $159,976,719. 19.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. Toronto Dominion Bank grew its holdings in shares of Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after purchasing an additional 16,219 shares during the period. Everence Capital Management Inc. purchased a new position in Robinhood Markets during the fourth quarter worth about $634,000. Atomi Financial Group Inc. boosted its stake in Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after buying an additional 92,613 shares during the period. Requisite Capital Management LLC acquired a new stake in shares of Robinhood Markets during the fourth quarter valued at about $266,000. Finally, Baker Avenue Asset Management LP raised its stake in shares of 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 acquiring an additional 203,354 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.