Brokerages Set Robinhood Markets, Inc. (NASDAQ:HOOD) PT at $38.13

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have earned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $38.13.

HOOD has been the topic of several recent analyst reports. KeyCorp increased their target price on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Barclays raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $26.00 to $49.00 in a research note on Monday, December 9th. Needham & Company LLC restated a “buy” rating and set a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price target for the stock from $40.00 to $46.00 in a report on Friday, December 6th.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 208,291 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the completion of the transaction, the insider now directly owns 346,020 shares in the company, valued at $8,643,579.60. This trade represents a 37.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $22.37, for a total value of $279,625.00. Following the transaction, the insider now owns 1,057,500 shares of the company’s stock, valued at $23,656,275. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,037,689 shares of company stock valued at $177,092,487. Insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. HM Payson & Co. increased its stake in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the last quarter. Eastern Bank purchased a new position in shares of Robinhood Markets in the 3rd quarter valued at $30,000. True Wealth Design LLC acquired a new stake in Robinhood Markets during the 3rd quarter worth $30,000. ORG Partners LLC purchased a new stake in Robinhood Markets in the second quarter valued at $33,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Robinhood Markets during the third quarter worth about $33,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $40.20 on Thursday. Robinhood Markets has a 1 year low of $10.38 and a 1 year high of $42.76. The firm has a fifty day moving average price of $31.70 and a 200-day moving average price of $25.01. The stock has a market cap of $35.54 billion, a PE ratio of 68.14, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same period in the previous year, the business posted ($0.09) earnings per share. The business’s revenue was up 36.4% on a year-over-year basis. On average, research analysts expect that Robinhood Markets will post 0.8 EPS 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.