Robinhood Markets, Inc. (NASDAQ:HOOD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Robinhood Markets, Inc. (NASDAQ:HOOD) has been given a consensus recommendation of “Moderate Buy” by the eighteen research firms that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $61.29.

A number of analysts have recently issued reports on the company. Mizuho raised their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. KeyCorp upped their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Cantor Fitzgerald began coverage on shares of Robinhood Markets in a research note on Thursday, March 6th. They set an “overweight” rating and a $69.00 target price for the company. Finally, Compass Point started coverage on shares of Robinhood Markets in a research note on Wednesday. They issued a “buy” rating and a $61.00 price target on the stock.

Robinhood Markets Stock Up 1.6 %

Shares of Robinhood Markets stock opened at $44.36 on Friday. The stock has a market cap of $39.28 billion, a P/E ratio of 28.25, a P/E/G ratio of 1.05 and a beta of 2.14. Robinhood Markets has a 12-month low of $13.98 and a 12-month high of $66.91. The business’s 50 day moving average is $49.04 and its 200-day moving average is $37.16.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, sell-side analysts expect that Robinhood Markets will post 1.35 EPS for the current year.

Insider Activity

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the transaction, the chief technology officer now owns 17,559 shares in the company, valued at approximately $821,936.79. The trade was a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the completion of the sale, the insider now owns 806,955 shares of the company’s stock, valued at $30,268,882.05. The trade was a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,979,251 shares of company stock worth $142,232,560. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds have recently made changes to their positions in the stock. MetLife Investment Management LLC increased its position in Robinhood Markets by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock valued at $440,000 after purchasing an additional 171 shares during the period. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after purchasing an additional 233 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock valued at $142,000 after purchasing an additional 277 shares during the last quarter. Commerce Bank raised its stake in Robinhood Markets by 3.3% during the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after buying an additional 423 shares during the last quarter. Finally, Spire Wealth Management lifted its holdings in Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after buying an additional 549 shares during the period. 93.27% of the stock is currently owned by 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.