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

Robinhood Markets, Inc. (NASDAQ:HOOD) has earned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $125.10.

Several equities research analysts have recently issued reports on the stock. KeyCorp raised their target price on shares of Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday, October 8th. JMP Securities raised their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 price target (up previously from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Finally, CICC Research initiated coverage on shares of Robinhood Markets in a research note on Monday, October 27th. They issued an “outperform” rating and a $155.00 price target on the stock.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total transaction of $49,957,923.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Meyer Malka sold 1,093,288 shares of the firm’s stock in a transaction dated Thursday, August 28th. The shares were 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 SEC filing for this sale provides additional information. Insiders have sold a total of 3,377,523 shares of company stock worth $400,284,076 over the last ninety days. 14.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. First Command Advisory Services Inc. increased its position in Robinhood Markets by 33.8% during the 3rd quarter. First Command Advisory Services Inc. now owns 321 shares of the company’s stock valued at $46,000 after purchasing an additional 81 shares during the period. Bank of Jackson Hole Trust increased its position in Robinhood Markets by 4,180.0% during the 3rd quarter. Bank of Jackson Hole Trust now owns 428 shares of the company’s stock valued at $61,000 after purchasing an additional 418 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Robinhood Markets by 18.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 69,340 shares of the company’s stock valued at $9,929,000 after purchasing an additional 10,731 shares during the period. EWA LLC grew its position in shares of Robinhood Markets by 4.6% in the 3rd quarter. EWA LLC now owns 4,090 shares of the company’s stock worth $586,000 after buying an additional 178 shares during the last quarter. Finally, LBP AM SA purchased a new position in shares of Robinhood Markets in the 3rd quarter worth approximately $680,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Up 6.3%

Robinhood Markets stock opened at $146.78 on Friday. The firm has a 50-day moving average price of $126.98 and a 200-day moving average price of $96.60. The firm has a market capitalization of $130.44 billion, a PE ratio of 74.51, a price-to-earnings-growth ratio of 3.81 and a beta of 2.42. Robinhood Markets has a 12-month low of $23.00 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released 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 firm had revenue of $989.00 million during the quarter, compared to analyst estimates 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 was up 45.0% on a year-over-year basis. During the same quarter last year, the business earned $0.21 EPS. As a group, sell-side analysts predict that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

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.