Robinhood Markets, Inc. (NASDAQ:HOOD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have received a consensus rating of “Moderate Buy” from the twenty analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $113.5882.

Several equities analysts have recently commented on HOOD shares. Bank of America increased their price objective on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Piper Sandler reiterated an “overweight” rating and set a $140.00 price objective (up from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Needham & Company LLC increased their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Compass Point increased their price objective on Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Finally, JMP Securities increased their price objective on Robinhood Markets from $125.00 to $130.00 and gave the company a “market outperform” rating in a research report on Thursday, July 31st.

Insider Transactions at Robinhood Markets

In related news, Director Meyer Malka sold 1,093,288 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the transaction, the director directly owned 3,976,234 shares in the company, valued at $413,011,425.58. This trade represents a 21.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.97, for a total value of $22,493,250.00. Following the transaction, the insider owned 591,887 shares in the company, valued at approximately $59,170,943.39. The trade was a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,675,598 shares of company stock valued at $617,385,075 over the last 90 days. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. grew its position in Robinhood Markets by 120.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after acquiring an additional 148 shares during the last quarter. Smithfield Trust Co bought a new position in Robinhood Markets during the 2nd quarter worth approximately $29,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Robinhood Markets in the 2nd quarter worth approximately $34,000. V Square Quantitative Management LLC purchased a new stake in Robinhood Markets in the 2nd quarter worth approximately $36,000. Finally, LGT Financial Advisors LLC purchased a new stake in Robinhood Markets in the 2nd quarter worth approximately $37,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Up 0.5%

Shares of NASDAQ HOOD opened at $145.00 on Wednesday. The firm has a market capitalization of $128.86 billion, a P/E ratio of 73.60, a P/E/G ratio of 4.01 and a beta of 2.42. The stock’s 50-day simple moving average is $116.04 and its two-hundred day simple moving average is $84.00. Robinhood Markets has a twelve month low of $23.00 and a twelve month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. The business had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company’s quarterly revenue was up 45.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 EPS. As a group, research analysts anticipate that Robinhood Markets will post 1.35 EPS for the current fiscal year.

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.