Brokerages Set Robinhood Markets, Inc. (NASDAQ:HOOD) Target Price at $120.52

Robinhood Markets, Inc. (NASDAQ:HOOD) has earned an average recommendation of “Moderate Buy” from the twenty-seven analysts that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and twenty-three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $122.6667.

Several research analysts have weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of Robinhood Markets from $137.00 to $118.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Sanford C. Bernstein boosted their price target on shares of Robinhood Markets from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, July 20th. Mizuho upped their price objective on shares of Robinhood Markets from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. Loop Capital set a $105.00 price objective on shares of Robinhood Markets in a research report on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of Robinhood Markets from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 375,000 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $116.17, for a total transaction of $43,563,750.00. Following the transaction, the chief executive officer owned 375,000 shares of the company’s stock, valued at approximately $43,563,750. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $90.42, for a total value of $904,200.00. Following the transaction, the insider owned 461,396 shares of the company’s stock, valued at $41,719,426.32. This trade represents a 2.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 626,283 shares of company stock valued at $69,070,083. Corporate insiders own 13.48% of the company’s stock.

Institutional Trading of Robinhood Markets

Several hedge funds have recently made changes to their positions in HOOD. Truist Financial Corp raised its position in Robinhood Markets by 88.9% in the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock valued at $16,455,000 after purchasing an additional 68,458 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Robinhood Markets by 86.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock worth $11,406,000 after buying an additional 46,688 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Robinhood Markets by 196.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 722,857 shares of the company’s stock worth $81,755,000 after buying an additional 478,919 shares during the period. Swiss Life Asset Management Ltd increased its stake in shares of Robinhood Markets by 107.8% during the fourth quarter. Swiss Life Asset Management Ltd now owns 272,604 shares of the company’s stock worth $30,832,000 after buying an additional 141,440 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Robinhood Markets by 4.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,742,369 shares of the company’s stock valued at $200,738,000 after acquiring an additional 76,514 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Trending Headlines about Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Analyst sentiment remains supportive. Scotiabank initiated coverage with a bullish view, while Piper Sandler raised its price target to $145 and expects football-related event contracts to increase activity. Robinhood generated $156 million from event contracts in the second quarter. Robinhood Stock Jumps After Wave of Analysts Upgrade
• Positive Sentiment: Robinhood Chain and crypto activity are emerging growth drivers. The new blockchain reportedly generated about $3.8 million in fees on September 1, while the company now has 13 business lines with more than $100 million in annualized revenue. Deutsche Bank also sees potential upside from Robinhood’s latest crypto initiatives. Robinhood Now Runs 13 Revenue Lines Above $100 Million a Year
• Positive Sentiment: CEO Vlad Tenev said Robinhood’s newly launched Trust Accounts have attracted more than $150 million since August, suggesting early customer demand for the offering. Robinhood Trust Accounts Now Have Over $150 Million

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $122.11 on Friday. The stock has a market cap of $109.79 billion, a PE ratio of 53.79, a P/E/G ratio of 2.56 and a beta of 2.34. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23. Robinhood Markets has a twelve month low of $63.51 and a twelve month high of $153.86. The stock has a fifty day simple moving average of $102.73 and a 200-day simple moving average of $88.26.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.18. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. Robinhood Markets’s revenue was up 32.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. Equities analysts anticipate that Robinhood Markets will post 2.08 earnings per share for the current year.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.