Robinhood Markets (NASDAQ:HOOD) Given New $75.00 Price Target at KeyCorp

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by KeyCorp from $57.00 to $75.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also recently issued reports about the stock. Morgan Stanley lifted their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday. Sanford C. Bernstein boosted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Mizuho increased their price target on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and raised their target price for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.07.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $63.80 on Thursday. The business has a fifty day moving average of $44.98 and a 200 day moving average of $32.13. Robinhood Markets has a 1 year low of $12.77 and a 1 year high of $66.91. The firm has a market capitalization of $56.40 billion, a price-to-earnings ratio of 108.14, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last announced 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 return on equity of 7.52% and a net margin of 21.80%. As a group, equities research analysts expect that Robinhood Markets will post 0.97 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business’s 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the completion of the transaction, the insider now owns 806,955 shares in the company, valued at approximately $30,268,882.05. This trade represents a 27.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,948,427 shares of company stock worth $165,005,244 in the last quarter. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HOOD. FMR LLC grew its holdings in shares of Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after buying an additional 26,107,934 shares in the last quarter. Norges Bank acquired a new position in Robinhood Markets during the fourth quarter worth about $329,598,000. GQG Partners LLC purchased a new stake in Robinhood Markets during the 4th quarter valued at about $302,325,000. Artisan Partners Limited Partnership acquired a new stake in Robinhood Markets in the 4th quarter valued at about $152,949,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Robinhood Markets by 1,211,858.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after purchasing an additional 3,817,355 shares in the last quarter. 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.