Robinhood Markets (NASDAQ:HOOD) Research Coverage Started at CICC Research

CICC Research began coverage on shares of Robinhood Markets (NASDAQ:HOOD) in a research report released on Monday morning,Benzinga reports. The brokerage issued an outperform rating and a $155.00 price objective on the stock.

Several other research analysts have also recently commented on HOOD. Citizens Jmp raised their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “mkt outperform” rating in a report on Thursday, October 9th. Mizuho raised their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 10th. Barclays boosted their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Bank of America raised their target price on Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, The Goldman Sachs Group lifted their price target on Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $122.85.

Robinhood Markets Stock Down 1.0%

Shares of Robinhood Markets stock opened at $144.80 on Monday. Robinhood Markets has a 12-month low of $23.00 and a 12-month high of $153.86. The firm has a market capitalization of $128.68 billion, a PE ratio of 73.50, a price-to-earnings-growth ratio of 3.80 and a beta of 2.42. The stock’s fifty day moving average is $125.59 and its 200-day moving average is $95.22.

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. The business had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.Robinhood Markets’s revenue for the quarter was up 45.0% on a year-over-year basis. During the same quarter last year, the company posted $0.21 EPS. Analysts expect that Robinhood Markets will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the sale, the insider owned 591,887 shares of the company’s stock, valued at $59,170,943.39. This represents a 27.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,181,462 shares of company stock worth $580,640,910 over the last quarter. 14.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in Robinhood Markets by 40.2% during the first quarter. GAMMA Investing LLC now owns 8,210 shares of the company’s stock worth $342,000 after purchasing an additional 2,352 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Robinhood Markets by 43.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 79,193 shares of the company’s stock worth $3,296,000 after buying an additional 24,075 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in shares of Robinhood Markets during the 1st quarter worth $233,000. Sequoia Financial Advisors LLC grew its stake in Robinhood Markets by 72.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 10,426 shares of the company’s stock valued at $434,000 after buying an additional 4,370 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its holdings in Robinhood Markets by 71.2% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 1,455 shares of the company’s stock worth $61,000 after acquiring an additional 605 shares during the period. 93.27% of the stock is owned by 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.