Robinhood Markets (NASDAQ:HOOD) Given New $60.00 Price Target at Keefe, Bruyette & Woods

Robinhood Markets (NASDAQ:HOOD) had its price objective hoisted by Keefe, Bruyette & Woods from $38.00 to $60.00 in a report issued on Tuesday,Benzinga reports. They currently have a market perform rating on the stock.

Several other research firms also recently commented on HOOD. Citigroup increased their target price on shares of Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Needham & Company LLC increased their price objective on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Piper Sandler boosted their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Sanford C. Bernstein increased their price target on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, Raymond James assumed coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating for the company. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $59.53.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $56.06 on Tuesday. The firm has a market cap of $49.56 billion, a price-to-earnings ratio of 35.71, a P/E/G ratio of 1.13 and a beta of 2.13. The stock has a 50-day simple moving average of $47.19 and a 200-day simple moving average of $33.56. Robinhood Markets has a 52-week low of $13.39 and a 52-week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.96%. As a group, equities research analysts predict that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the transaction, the chief technology officer now directly owns 11,752 shares in the company, valued at $445,635.84. This represents a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total value of $3,038,500.00. Following the completion of the transaction, the insider now owns 706,642 shares in the company, valued at $42,942,634.34. This represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,520,607 shares of company stock worth $200,784,430. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of institutional investors and hedge funds have recently modified their holdings of HOOD. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the 4th quarter valued at $26,000. HM Payson & Co. boosted its position in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares during the period. Eastern Bank bought a new stake in shares of Robinhood Markets during the 3rd quarter worth about $30,000. True Wealth Design LLC bought a new stake in shares of Robinhood Markets during the third quarter worth approximately $30,000. Finally, CoreCap Advisors LLC boosted its position in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after acquiring an additional 550 shares during the period. 93.27% of the stock is owned by institutional investors.

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.