Robinhood Markets (NASDAQ:HOOD) Given New $82.00 Price Target at The Goldman Sachs Group

Robinhood Markets (NASDAQ:HOOD) had its price objective boosted by The Goldman Sachs Group from $81.00 to $82.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently commented on the stock. Citigroup dropped their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. Barclays dropped their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Needham & Company LLC reissued a “buy” rating and issued a $71.00 target price on shares of Robinhood Markets in a report on Tuesday, May 27th. Finally, Cantor Fitzgerald dropped their target price on shares of Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.17.

Robinhood Markets Stock Down 1.4%

HOOD opened at $73.84 on Thursday. Robinhood Markets has a twelve month low of $13.98 and a twelve month high of $77.80. The company has a 50-day simple moving average of $55.45 and a 200 day simple moving average of $48.40. The stock has a market capitalization of $65.38 billion, a price-to-earnings ratio of 47.03, a P/E/G ratio of 1.05 and a beta of 2.25.

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

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $73.49, for a total transaction of $431,018.85. Following the completion of the sale, the chief technology officer now owns 20,636 shares of the company’s stock, valued at approximately $1,516,539.64. This represents a 22.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,232,636 shares of company stock worth $111,898,793 in the last quarter. 14.47% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC increased its position in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock valued at $25,000 after purchasing an additional 508 shares during the period. Hemington Wealth Management grew its position in shares of Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after buying an additional 218 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets during the 1st quarter worth approximately $30,000. CoreCap Advisors LLC grew its position in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after buying an additional 550 shares during the period. Finally, Creative Financial Designs Inc. ADV grew its position in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after buying an additional 750 shares during the period. Institutional investors and hedge funds 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.