Brokerages Set Robinhood Markets, Inc. (NASDAQ:HOOD) Target Price at $61.29

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have earned a consensus rating of “Moderate Buy” from the eighteen research firms that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $61.29.

Several brokerages recently issued reports on HOOD. Piper Sandler lifted their price objective on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Mizuho raised their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods upped their price target on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Finally, Barclays lifted their price objective on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th.

Robinhood Markets Stock Down 7.1 %

NASDAQ:HOOD opened at $44.73 on Friday. The firm’s fifty day simple moving average is $49.33 and its 200-day simple moving average is $37.87. The stock has a market cap of $39.61 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. Robinhood Markets has a fifty-two week low of $13.98 and a fifty-two week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share 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%. Equities analysts anticipate that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the sale, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,955,655 shares of company stock worth $143,072,448 in the last quarter. 19.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HOOD. MetLife Investment Management LLC increased its position in shares of Robinhood Markets by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock worth $440,000 after acquiring an additional 171 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its position in Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after purchasing an additional 233 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after purchasing an additional 277 shares in the last quarter. Commerce Bank boosted its position in shares of Robinhood Markets by 3.3% in the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after buying an additional 423 shares during the period. Finally, Spire Wealth Management grew its stake in shares of Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after buying an additional 549 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.