Robinhood Markets, Inc. (NASDAQ:HOOD) Given Average Rating of “Moderate Buy” by Analysts

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have been given an average rating of “Moderate Buy” by the fifteen brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $38.13.

A number of brokerages have commented on HOOD. Barclays upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $26.00 to $49.00 in a research note on Monday. JPMorgan Chase & Co. raised their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. Sanford C. Bernstein upped their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Piper Sandler lifted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday.

Robinhood Markets Stock Up 1.3 %

Robinhood Markets stock opened at $37.84 on Thursday. The stock has a market cap of $33.45 billion, a PE ratio of 64.14, a P/E/G ratio of 0.93 and a beta of 2.08. The business’s 50-day moving average price is $31.01 and its two-hundred day moving average price is $24.74. Robinhood Markets has a 12-month low of $10.38 and a 12-month high of $42.76.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same period in the prior year, the business earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 36.4% on a year-over-year basis. As a group, analysts expect that Robinhood Markets will post 0.77 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 98,404 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the completion of the sale, the director now owns 2,521 shares in the company, valued at approximately $66,554.40. This represents a 97.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Meyer Malka sold 1,535,681 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the sale, the director now directly owns 4,974,238 shares of the company’s stock, valued at $199,516,686.18. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,851,175 shares of company stock valued at $169,980,708 in the last quarter. 19.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently modified their holdings of the business. Diversified Trust Co grew its holdings in Robinhood Markets by 180.3% during the 2nd quarter. Diversified Trust Co now owns 38,744 shares of the company’s stock valued at $880,000 after buying an additional 24,923 shares in the last quarter. ORG Partners LLC purchased a new position in Robinhood Markets during the 2nd quarter valued at $33,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Robinhood Markets during the second quarter valued at $292,000. Swedbank AB bought a new position in shares of Robinhood Markets in the second quarter worth about $5,172,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Robinhood Markets by 3,335.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 627,951 shares of the company’s stock valued at $14,261,000 after buying an additional 609,671 shares in the last quarter. 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.