Brokerages Set Robinhood Markets, Inc. (NASDAQ:HOOD) Price Target at $113.59

Robinhood Markets, Inc. (NASDAQ:HOOD) has been assigned an average rating of “Moderate Buy” from the twenty brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $118.9444.

HOOD has been the subject of a number of recent analyst reports. Bank of America raised their price target on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Compass Point raised their price target on Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a report on Friday, June 27th. Cantor Fitzgerald raised their price target on Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday. Finally, Citigroup lifted their target price on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $99.97, for a total value of $22,493,250.00. Following the completion of the transaction, the insider owned 591,887 shares in the company, valued at approximately $59,170,943.39. This represents a 27.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,681,122 shares of company stock worth $618,215,681 in the last ninety days. 14.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its stake in shares of Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after purchasing an additional 148 shares during the period. Hemington Wealth Management grew its stake in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 218 shares during the period. Smithfield Trust Co acquired a new stake in shares of Robinhood Markets during the second quarter worth $29,000. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets during the first quarter worth $30,000. Finally, Pandora Wealth Inc. acquired a new stake in shares of Robinhood Markets during the first quarter worth $33,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

HOOD stock opened at $138.96 on Wednesday. The business has a fifty day moving average price of $118.70 and a 200 day moving average price of $85.80. Robinhood Markets has a fifty-two week low of $23.00 and a fifty-two week high of $153.86. The stock has a market capitalization of $123.49 billion, a price-to-earnings ratio of 70.54, a P/E/G ratio of 4.24 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The firm had revenue of $989.00 million during the quarter, compared to analysts’ expectations of $893.93 million. During the same period last year, the firm posted $0.21 EPS. The business’s revenue was up 45.0% on a year-over-year basis. On average, equities analysts expect that Robinhood Markets will post 1.35 earnings per share for the current fiscal 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.