Robinhood Markets (NASDAQ:HOOD) Given New $45.00 Price Target at Barclays

Robinhood Markets (NASDAQ:HOOD) had its price target reduced by stock analysts at Barclays from $76.00 to $45.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 33.88% from the company’s previous close.

Several other brokerages have also recently weighed in on HOOD. Mizuho lifted their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Compass Point initiated coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price target for the company. Citigroup reduced their price target on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Cantor Fitzgerald began coverage on Robinhood Markets in a report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price objective for the company. Finally, Piper Sandler increased their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.41.

Robinhood Markets Trading Down 2.6 %

Shares of NASDAQ:HOOD traded down $0.90 during trading on Monday, reaching $33.61. 15,968,400 shares of the stock were exchanged, compared to its average volume of 22,627,857. The firm has a market cap of $29.76 billion, a PE ratio of 20.38, a PEG ratio of 1.05 and a beta of 2.17. Robinhood Markets has a 12 month low of $13.98 and a 12 month high of $66.91. The stock has a 50-day moving average price of $48.15 and a 200-day moving average price of $38.93.

Robinhood Markets (NASDAQ:HOOD) last issued 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 return on equity of 13.53% and a net margin of 47.81%. On average, sell-side analysts expect that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Baiju Bhatt sold 90,866 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $45.27, for a total value of $4,113,503.82. Following the sale, the director now directly owns 5,042 shares of the company’s stock, valued at $228,251.34. This represents a 94.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,621,134 shares of company stock worth $131,646,496 over the last ninety days. Insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Large investors have recently modified their holdings of the stock. New Wave Wealth Advisors LLC bought a new position in Robinhood Markets during the fourth quarter worth $26,000. CoreCap Advisors LLC raised its holdings in shares of Robinhood Markets by 191.6% during the fourth 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 raised its holdings in shares of Robinhood Markets by 750.0% during the fourth 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 during the period. Colonial Trust Co SC bought a new position in shares of Robinhood Markets during the 4th quarter worth about $34,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in Robinhood Markets by 139.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock valued at $36,000 after buying an additional 498 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.