Analysts Set Robinhood Markets, Inc. (NASDAQ:HOOD) PT at $53.24

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have been given an average recommendation of “Moderate Buy” by the eighteen analysts that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $53.41.

HOOD has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Cantor Fitzgerald reduced their price target on shares of Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Citigroup reduced their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Needham & Company LLC cut their target price on shares of Robinhood Markets from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, Barclays cut their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, April 7th.

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 522,180 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the completion of the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at $316,133.40. This represents a 99.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,362,194 shares of company stock worth $116,234,743 over the last three months. Company insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after buying an additional 5,874,701 shares in the last quarter. FMR LLC increased its stake in shares of Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC increased its stake in shares of Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock valued at $900,159,000 after purchasing an additional 273,860 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Robinhood Markets by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock valued at $455,464,000 after purchasing an additional 555,299 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after purchasing an additional 3,091,514 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Price Performance

HOOD opened at $62.57 on Friday. The company has a fifty day moving average price of $43.92 and a 200-day moving average price of $42.96. The firm has a market capitalization of $55.40 billion, a P/E ratio of 39.85, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. Robinhood Markets has a one year low of $13.98 and a one year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The firm had revenue of $927.00 million for the quarter, compared to analysts’ expectations of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The firm’s revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share. On average, analysts expect that Robinhood Markets will post 1.35 earnings per share for the current 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.