Robinhood Markets, Inc. (NASDAQ:HOOD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have been given an average rating of “Moderate Buy” by the eighteen analysts that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $61.29.

Several research firms have recently issued reports on HOOD. JMP Securities boosted their price objective on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Morgan Stanley boosted their price target on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Needham & Company LLC boosted their price objective on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods raised their target price on Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the transaction, the chief technology officer now owns 17,559 shares of the company’s stock, valued at $821,936.79. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,979,251 shares of company stock worth $142,232,560 in the last quarter. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. FMR LLC boosted 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 acquiring an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC lifted its position in shares of Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock worth $900,159,000 after purchasing an additional 273,860 shares in the last quarter. State Street Corp boosted its holdings in Robinhood Markets by 8.7% during the third 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 last quarter. Geode Capital Management LLC grew its position in Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock valued at $455,464,000 after purchasing an additional 555,299 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Robinhood Markets by 34.4% in the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after buying an additional 3,091,514 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Price Performance

Shares of HOOD opened at $44.36 on Friday. The company has a market capitalization of $39.28 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. Robinhood Markets has a one year low of $13.98 and a one year high of $66.91. The company’s fifty day moving average price is $49.04 and its 200 day moving average price is $37.16.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Analysts anticipate that Robinhood Markets will post 1.35 earnings per share for the current year.

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.