Robinhood Markets (NASDAQ:HOOD) Given New $85.00 Price Target at Deutsche Bank Aktiengesellschaft

Robinhood Markets (NASDAQ:HOOD) had its target price upped by Deutsche Bank Aktiengesellschaft from $70.00 to $85.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on HOOD. Citigroup reduced their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Wolfe Research downgraded Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Needham & Company LLC reiterated a “buy” rating and issued a $71.00 price objective on shares of Robinhood Markets in a research report on Tuesday, May 27th. JMP Securities restated a “market outperform” rating and set a $70.00 price objective on shares of Robinhood Markets in a research report on Thursday, May 1st. Finally, Piper Sandler increased their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.17.

Robinhood Markets Stock Performance

Shares of HOOD opened at $73.40 on Monday. The company’s 50-day simple moving average is $53.19 and its 200-day simple moving average is $47.80. Robinhood Markets has a 1 year low of $13.98 and a 1 year high of $77.80. The stock has a market capitalization of $64.99 billion, a PE ratio of 46.75, a P/E/G ratio of 1.05 and a beta of 2.25.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The firm’s revenue was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 earnings per share. On average, sell-side analysts predict that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $38.31, for a total value of $957,750.00. Following the transaction, the insider now owns 822,825 shares in the company, valued at $31,522,425.75. The trade was a 2.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $73.49, for a total value of $431,018.85. Following the sale, the chief technology officer now owns 20,636 shares of the company’s stock, valued at $1,516,539.64. This represents a 22.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,232,636 shares of company stock worth $111,898,793. Company insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors have recently made changes to their positions in the business. FMR LLC grew its stake in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares in the last quarter. Norges Bank acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $329,598,000. GQG Partners LLC acquired a new position in shares of Robinhood Markets in the 4th quarter valued at about $302,325,000. Vanguard Group Inc. raised its stake in Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares during the period. Finally, AGF Management Ltd. lifted its holdings in Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after acquiring an additional 4,255,862 shares during 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.