Compass Point Initiates Coverage on Robinhood Markets (NASDAQ:HOOD)

Compass Point began coverage on shares of Robinhood Markets (NASDAQ:HOOD) in a report published on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $61.00 price target on the stock.

Several other research analysts also recently issued reports on HOOD. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. KeyCorp upped their price target on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Citigroup raised their target price on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Barclays lifted their price target on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $61.29.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $44.36 on Wednesday. The stock’s 50-day moving average is $49.04 and its 200-day moving average is $37.16. The company has a market cap of $39.28 billion, a P/E ratio of 28.25, a P/E/G ratio of 1.05 and a beta of 2.14. Robinhood Markets has a 52-week low of $13.98 and a 52-week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, equities analysts predict that Robinhood Markets will post 1.35 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the transaction, the chief technology officer now owns 17,559 shares in the company, valued at $821,936.79. This trade represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the sale, the director now directly owns 5,042 shares of the company’s stock, valued at $316,133.40. This represents a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,979,251 shares of company stock valued at $142,232,560 in the last 90 days. 19.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HOOD. FMR LLC increased its holdings in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Norges Bank bought a new position in Robinhood Markets during the 4th quarter worth approximately $329,598,000. GQG Partners LLC acquired a new position in Robinhood Markets during the fourth quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership bought a new stake in Robinhood Markets in the fourth quarter valued at approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Robinhood Markets by 335.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock worth $193,202,000 after purchasing an additional 3,994,745 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.