Robinhood Markets, Inc. (NASDAQ:HOOD) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have received an average recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the company, 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 updated their coverage on the stock in the last year is $55.06.

A number of equities analysts have issued reports on HOOD shares. JPMorgan Chase & Co. lifted their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Piper Sandler boosted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Mizuho increased their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays cut their target price on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Finally, Wolfe Research downgraded Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $34.51, for a total value of $201,987.03. Following the completion of the transaction, the chief technology officer now directly owns 5,853 shares of the company’s stock, valued at approximately $201,987.03. This trade represents a 50.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the sale, the insider now directly owns 706,642 shares in the company, valued at $36,462,727.20. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,784,193 shares of company stock worth $137,892,219 over the last quarter. 19.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC lifted its holdings in shares of Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after buying an additional 508 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets in the 4th quarter worth approximately $26,000. CoreCap Advisors LLC boosted its holdings in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV grew its position in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after purchasing an additional 750 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Robinhood Markets by 139.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock worth $36,000 after purchasing an additional 498 shares during the period. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $41.18 on Wednesday. The stock has a market capitalization of $36.46 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. Robinhood Markets has a 52 week low of $13.98 and a 52 week high of $66.91. The stock has a 50 day moving average price of $45.22 and a two-hundred day moving average price of $40.29.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results 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%. Research analysts forecast that Robinhood Markets will post 1.35 EPS 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.