Robinhood Markets (NASDAQ:HOOD) Now Covered by Truist Financial

Truist Financial began coverage on shares of Robinhood Markets (NASDAQ:HOOD) in a research note published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $155.00 target price on the stock.

A number of other brokerages have also issued reports on HOOD. Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a research note on Monday, December 8th. Morgan Stanley upped their price objective on Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. Bank of America cut their target price on Robinhood Markets from $166.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price target on shares of Robinhood Markets in a report on Friday, December 5th. Finally, The Goldman Sachs Group boosted their price target on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $137.25.

Robinhood Markets Trading Down 3.0%

Robinhood Markets stock opened at $115.80 on Wednesday. Robinhood Markets has a 12-month low of $29.66 and a 12-month high of $153.86. The firm has a market capitalization of $104.13 billion, a price-to-earnings ratio of 48.05, a P/E/G ratio of 2.40 and a beta of 2.43. The firm has a 50 day moving average of $130.25 and a 200 day moving average of $113.14.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The company’s revenue was up 100.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. On average, analysts predict that Robinhood Markets will post 1.35 EPS for the current year.

Insider Transactions at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $132.26, for a total value of $775,704.90. Following the sale, the chief technology officer owned 26,725 shares in the company, valued at approximately $3,534,648.50. The trade was a 18.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $116.56, for a total transaction of $48,761,477.28. The disclosure for this sale is available in the SEC filing. Insiders sold 3,686,763 shares of company stock valued at $475,858,262 over the last 90 days. Insiders own 14.47% of the company’s stock.

Institutional Trading of Robinhood Markets

Several hedge funds have recently made changes to their positions in the business. Valley National Advisers Inc. increased its stake in Robinhood Markets by 113.6% during the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Robinhood Markets by 107.6% in the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after purchasing an additional 99 shares during the last quarter. Vision Financial Markets LLC boosted its holdings in shares of Robinhood Markets by 100.0% in the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Robinhood Markets during the 3rd quarter valued at approximately $29,000. Finally, Guerra Advisors Inc bought a new position in shares of Robinhood Markets during the 3rd quarter valued at approximately $30,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.