Robinhood Markets (NASDAQ:HOOD) Now Covered by CICC Research

CICC Research started coverage on shares of Robinhood Markets (NASDAQ:HOOD) in a report issued on Monday,Benzinga reports. The firm issued an outperform rating and a $155.00 price target on the stock.

Several other brokerages have also recently issued reports on HOOD. Keefe, Bruyette & Woods lifted their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a “market perform” rating in a report on Thursday, July 31st. Barclays lifted their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Needham & Company LLC lifted their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. KeyCorp lifted their target price on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Finally, Mizuho lifted their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, September 10th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $122.85.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $145.86 on Monday. The firm has a market cap of $129.62 billion, a price-to-earnings ratio of 74.04, a PEG ratio of 3.63 and a beta of 2.42. Robinhood Markets has a 1 year low of $23.00 and a 1 year high of $153.86. The company has a 50-day moving average of $124.03 and a 200 day moving average of $93.77.

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

Insider Activity at Robinhood Markets

In related news, insider Steven M. Quirk sold 60,113 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the transaction, the insider owned 94,454 shares in the company, valued at $9,531,353.14. This represents a 38.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the transaction, the insider owned 591,887 shares in the company, valued at approximately $59,170,943.39. This trade represents a 27.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,175,598 shares of company stock valued at $579,779,430 over the last quarter. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Robinhood Markets by 1.8% in the second quarter. Vanguard Group Inc. now owns 75,612,131 shares of the company’s stock worth $7,079,564,000 after buying an additional 1,371,051 shares during the last quarter. State Street Corp boosted its holdings in shares of Robinhood Markets by 9.2% in the second quarter. State Street Corp now owns 15,870,421 shares of the company’s stock worth $1,485,948,000 after buying an additional 1,341,204 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Robinhood Markets by 4.0% in the second quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock worth $1,233,840,000 after buying an additional 507,926 shares during the last quarter. WCM Investment Management LLC boosted its holdings in shares of Robinhood Markets by 3,615.7% in the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after buying an additional 11,244,182 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Robinhood Markets in the second quarter worth approximately $973,122,000. 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.