Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $60.00

Robinhood Markets (NASDAQ:HOOD) had its price target upped by Keefe, Bruyette & Woods from $38.00 to $60.00 in a report released on Tuesday,Benzinga reports. They currently have a market perform rating on the stock.

Several other research firms have also commented on HOOD. Needham & Company LLC raised their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. JMP Securities increased their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Wolfe Research downgraded shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday. Finally, The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price target for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.53.

Robinhood Markets Trading Down 5.4 %

Shares of NASDAQ HOOD opened at $56.06 on Tuesday. Robinhood Markets has a 12-month low of $13.39 and a 12-month high of $66.91. The stock has a market cap of $49.56 billion, a PE ratio of 35.71, a P/E/G ratio of 1.13 and a beta of 2.13. The company has a 50-day moving average of $47.19 and a 200 day moving average of $33.56.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.96%. On average, sell-side analysts forecast that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, Director Meyer Malka sold 1,535,681 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the transaction, the director now directly owns 4,974,238 shares of the company’s stock, valued at $199,516,686.18. This trade represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven M. Quirk sold 19,861 shares of the company’s stock in a transaction that occurred on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the transaction, the insider now owns 395,166 shares of the company’s stock, valued at approximately $14,834,531.64. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,520,607 shares of company stock valued at $200,784,430 in the last quarter. 19.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently made changes to their positions in the business. MetLife Investment Management LLC lifted its position in shares of Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock worth $440,000 after buying an additional 171 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after buying an additional 233 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after purchasing an additional 277 shares in the last quarter. HM Payson & Co. boosted its stake in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares in the last quarter. Finally, Commerce Bank raised its holdings in shares of Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after purchasing an additional 423 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.