Robinhood Markets, Inc. (NASDAQ:HOOD) Receives $18.88 Average Target Price from Analysts

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have been assigned an average recommendation of “Hold” from the fourteen analysts that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $18.88.

A number of equities research analysts have recently issued reports on HOOD shares. TheStreet upgraded shares of Robinhood Markets from a “d+” rating to a “c-” rating in a research report on Wednesday, February 28th. Keefe, Bruyette & Woods assumed coverage on Robinhood Markets in a research note on Wednesday, April 3rd. They issued a “market perform” rating and a $20.00 target price for the company. Morgan Stanley lifted their price target on Robinhood Markets from $11.00 to $18.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Robinhood Markets from $12.00 to $16.00 and gave the stock a “hold” rating in a report on Tuesday, March 19th. Finally, Sanford C. Bernstein began coverage on Robinhood Markets in a report on Thursday, March 14th. They set an “outperform” rating and a $30.00 price objective for the company.

Insider Buying and Selling at Robinhood Markets

In other news, insider Baiju Bhatt sold 188,077 shares of Robinhood Markets stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $13.57, for a total transaction of $2,552,204.89. Following the sale, the insider now directly owns 36,045 shares of the company’s stock, valued at $489,130.65. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Robinhood Markets news, insider Baiju Bhatt sold 188,077 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $13.57, for a total transaction of $2,552,204.89. Following the completion of the sale, the insider now owns 36,045 shares in the company, valued at approximately $489,130.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steven M. Quirk sold 60,895 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $14.43, for a total transaction of $878,714.85. Following the completion of the sale, the insider now directly owns 350,769 shares in the company, valued at $5,061,596.67. The disclosure for this sale can be found here. Insiders sold a total of 2,150,526 shares of company stock valued at $34,221,892 in the last ninety days. Insiders own 20.81% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC lifted its stake in Robinhood Markets by 61.1% in the third quarter. CWM LLC now owns 8,488 shares of the company’s stock valued at $83,000 after buying an additional 3,219 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Robinhood Markets by 174.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 11,631 shares of the company’s stock worth $114,000 after acquiring an additional 7,387 shares during the period. Asset Management One Co. Ltd. lifted its position in Robinhood Markets by 2,933.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 174,819 shares of the company’s stock valued at $1,715,000 after purchasing an additional 169,056 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in Robinhood Markets during the 3rd quarter valued at about $1,209,000. Finally, Robeco Institutional Asset Management B.V. bought a new position in Robinhood Markets in the 3rd quarter worth about $231,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $17.95 on Wednesday. The firm’s fifty day simple moving average is $17.70 and its 200-day simple moving average is $13.24. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $20.55. The stock has a market capitalization of $15.70 billion, a price-to-earnings ratio of -29.92 and a beta of 1.74.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.04. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The business had revenue of $471.00 million for the quarter, compared to the consensus estimate of $454.73 million. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. Analysts anticipate that Robinhood Markets will post 0.29 earnings per share for the current 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.