Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $75.00 at Piper Sandler

Robinhood Markets (NASDAQ:HOOD) had its price target hoisted by Piper Sandler from $54.00 to $75.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

HOOD has been the subject of a number of other reports. Needham & Company LLC boosted their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday. KeyCorp boosted their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup upped their price target on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Raymond James initiated coverage on Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. upgraded Robinhood Markets from an “underweight” rating to a “neutral” rating and increased their target price for the company from $20.00 to $43.00 in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.07.

Robinhood Markets Stock Up 14.1 %

NASDAQ HOOD opened at $63.80 on Thursday. The stock’s 50-day simple moving average is $44.98 and its two-hundred day simple moving average is $32.13. Robinhood Markets has a twelve month low of $12.77 and a twelve month high of $66.91. The company has a market capitalization of $56.40 billion, a price-to-earnings ratio of 108.14, a PEG 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 EPS for the quarter, beating 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%. On average, equities analysts expect that Robinhood Markets will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the company’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 filing with the SEC, which is available at the SEC website. Also, Director Baiju Bhatt sold 90,866 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $55.34, for a total value of $5,028,524.44. Following the completion of the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at $279,024.28. This represents a 94.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,948,427 shares of company stock valued at $165,005,244. 19.95% of the stock is currently owned by company insiders.

Institutional Trading of Robinhood Markets

A number of hedge funds have recently modified their holdings of the business. FMR LLC lifted 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 valued at $1,499,248,000 after acquiring an additional 26,107,934 shares during the period. State Street Corp increased its stake in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after purchasing an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Robinhood Markets by 4.8% during 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 during the last quarter. Renaissance Technologies LLC boosted its position in shares of Robinhood Markets by 34.4% in the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock worth $450,031,000 after purchasing an additional 3,091,514 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Robinhood Markets in the 4th quarter worth approximately $329,598,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

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.