Analysts Set Robinhood Markets, Inc. (NASDAQ:HOOD) PT at $61.29

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have received a consensus rating of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $61.29.

HOOD has been the subject of several recent research reports. Mizuho increased their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. KeyCorp upped their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Needham & Company LLC boosted their target price on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Cantor Fitzgerald initiated coverage on Robinhood Markets in a report on Thursday, March 6th. They set an “overweight” rating and a $69.00 price target for the company.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated 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 document filed with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 228,645 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $40.37, for a total value of $9,230,398.65. Following the transaction, the director now owns 5,042 shares of the company’s stock, valued at $203,545.54. The trade was a 97.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,685,104 shares of company stock worth $131,233,346 in the last quarter. 19.95% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

A number of hedge funds have recently modified their holdings of HOOD. FMR LLC increased its stake 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 in the last quarter. Newlands Management Operations LLC increased its position in shares of Robinhood Markets by 1.1% in the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock valued at $900,159,000 after buying an additional 273,860 shares in the last quarter. State Street Corp increased its position in shares of Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after buying an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC raised its stake 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 buying an additional 555,299 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock worth $450,031,000 after acquiring an additional 3,091,514 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Up 9.0 %

Shares of NASDAQ HOOD opened at $48.36 on Friday. Robinhood Markets has a 12 month low of $13.98 and a 12 month high of $66.91. The company has a market cap of $42.82 billion, a P/E ratio of 30.80, a P/E/G ratio of 1.05 and a beta of 2.14. The business’s 50 day moving average is $49.22 and its two-hundred day moving average is $37.61.

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