Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $45.00

Robinhood Markets (NASDAQ:HOOD) had its target price upped by JPMorgan Chase & Co. from $39.00 to $45.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

HOOD has been the subject of a number of other research reports. Needham & Company LLC boosted their price target on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and upped their target price for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Mizuho upped their target price on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods upped their target price on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Finally, Barclays upped their target price on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and a consensus price target of $58.07.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $65.28 on Thursday. The firm has a market capitalization of $57.71 billion, a price-to-earnings ratio of 110.65, a PEG ratio of 0.73 and a beta of 2.13. The stock has a 50 day moving average price of $45.45 and a 200 day moving average price of $32.52. Robinhood Markets has a 52-week low of $13.04 and a 52-week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. Analysts forecast that Robinhood Markets will post 0.97 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction 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 filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 19,861 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 395,166 shares in the company, valued at approximately $14,834,531.64. The trade was a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,948,427 shares of company stock valued at $165,005,244. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently made changes to their positions in HOOD. FMR LLC grew its position in Robinhood Markets by 184.8% during the 4th 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. State Street Corp grew its position in Robinhood Markets by 8.7% during the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after purchasing an additional 1,085,679 shares during the period. Geode Capital Management LLC grew its position in Robinhood Markets by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock worth $455,464,000 after purchasing an additional 555,299 shares during the period. Renaissance Technologies LLC grew its position in Robinhood Markets by 34.4% during the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock worth $450,031,000 after purchasing an additional 3,091,514 shares during the period. Finally, Norges Bank acquired a new stake in Robinhood Markets during the 4th quarter worth about $329,598,000. 93.27% of the stock is owned by institutional investors and hedge funds.

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.