Robinhood Markets (NASDAQ:HOOD) Given New $147.00 Price Target at Morgan Stanley

Robinhood Markets (NASDAQ:HOODFree Report) had its price target boosted by Morgan Stanley from $146.00 to $147.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research analysts also recently weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a report on Thursday, November 6th. Truist Financial initiated coverage on shares of Robinhood Markets in a report on Wednesday, December 17th. They issued a “buy” rating and a $155.00 target price on the stock. KeyCorp raised their price target on shares of Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $145.00 price target on shares of Robinhood Markets in a research note on Friday, December 5th. Finally, JMP Securities increased their price objective on Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $137.30.

Check Out Our Latest Research Report on HOOD

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $122.37 on Monday. The business has a 50-day simple moving average of $128.82 and a 200 day simple moving average of $114.47. Robinhood Markets has a one year low of $29.66 and a one year high of $153.86. The firm has a market capitalization of $110.03 billion, a price-to-earnings ratio of 50.78, a PEG ratio of 2.24 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOODGet Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the firm posted $0.17 earnings per share. The company’s revenue for the quarter was up 100.0% compared to the same quarter last year. On average, sell-side analysts expect that Robinhood Markets will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $116.56, for a total transaction of $48,761,477.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of Robinhood Markets stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $132.13, for a total value of $15,855,600.00. Following the sale, the insider owned 430,012 shares in the company, valued at $56,817,485.56. The trade was a 21.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 3,680,899 shares of company stock valued at $475,130,364. Insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of large investors have recently added to or reduced their stakes in the stock. AIA Group Ltd grew its stake in shares of Robinhood Markets by 45.9% during the 3rd quarter. AIA Group Ltd now owns 3,450 shares of the company’s stock valued at $494,000 after buying an additional 1,086 shares during the period. Keel Point LLC raised its position in shares of Robinhood Markets by 6.5% in the 3rd quarter. Keel Point LLC now owns 3,941 shares of the company’s stock worth $564,000 after buying an additional 240 shares during the period. New Mexico Educational Retirement Board acquired a new position in Robinhood Markets in the third quarter valued at $4,983,000. Polar Asset Management Partners Inc. purchased a new stake in Robinhood Markets during the third quarter valued at about $1,002,000. Finally, Cambria Investment Management L.P. increased its stake in Robinhood Markets by 63.1% during the third quarter. Cambria Investment Management L.P. now owns 15,358 shares of the company’s stock worth $2,199,000 after acquiring an additional 5,943 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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About Robinhood Markets

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Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.

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