Robinhood Markets, Inc. (NASDAQ:HOOD) Receives $39.20 Average Price Target from Analysts

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $42.13.

HOOD has been the topic of a number of analyst reports. Piper Sandler lifted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. JMP Securities lifted their price target on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. Sanford C. Bernstein increased their price objective on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Barclays upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $26.00 to $49.00 in a research report on Monday, December 9th. Finally, The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $46.00 in a report on Friday, December 6th.

Insiders Place Their Bets

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $42.64, for a total transaction of $250,552.64. Following the completion of the sale, the chief technology officer now directly owns 5,876 shares in the company, valued at approximately $250,552.64. This trade 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 the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $24.21, for a total value of $6,052,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,708,196 shares of company stock worth $138,845,043. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

Institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank increased its position in shares of Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after buying an additional 16,219 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Robinhood Markets during the 4th quarter valued at about $634,000. Baker Avenue Asset Management LP raised its position in Robinhood Markets by 77.9% during the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after acquiring an additional 203,354 shares during the last quarter. Bridgewater Associates LP lifted its holdings in shares of Robinhood Markets by 100.4% in the third quarter. Bridgewater Associates LP now owns 330,956 shares of the company’s stock valued at $7,751,000 after purchasing an additional 165,791 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its position in shares of Robinhood Markets by 44.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company’s stock worth $1,481,000 after purchasing an additional 19,345 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

HOOD stock opened at $40.08 on Monday. Robinhood Markets has a 1 year low of $10.38 and a 1 year high of $43.83. The firm has a market capitalization of $35.43 billion, a PE ratio of 67.93, a price-to-earnings-growth ratio of 0.81 and a beta of 2.07. The business has a 50 day simple moving average of $36.99 and a 200-day simple moving average of $27.49.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm’s revenue was up 36.4% compared to the same quarter last year. During the same period last year, the business earned ($0.09) earnings per share. On average, equities research analysts expect that Robinhood Markets will post 0.8 EPS for the current 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.