Barclays Raises Robinhood Markets (NASDAQ:HOOD) Price Target to $76.00

Robinhood Markets (NASDAQ:HOOD) had its price objective increased by Barclays from $54.00 to $76.00 in a report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also weighed in on HOOD. Piper Sandler boosted their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. JMP Securities boosted their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Morgan Stanley raised their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. Raymond James began coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating for the company. Finally, Citigroup raised their price target on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $58.07.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $63.80 on Thursday. The company has a 50-day simple moving average of $44.98 and a two-hundred day simple moving average of $32.13. Robinhood Markets has a 52-week low of $12.77 and a 52-week high of $66.91. The stock has a market capitalization of $56.40 billion, a PE ratio of 108.14, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. As a group, equities research analysts forecast that Robinhood Markets will post 0.97 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $37.92, for a total transaction of $222,817.92. Following the completion of the transaction, the chief technology officer now owns 11,752 shares in the company, valued at approximately $445,635.84. This represents a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Insiders sold a total of 3,948,427 shares of company stock valued at $165,005,244 over the last three months. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently bought and sold shares of the business. Dorsey & Whitney Trust CO LLC grew its stake in shares of Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after buying an additional 233 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock valued at $142,000 after acquiring an additional 277 shares during the last quarter. HM Payson & Co. grew its position in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares in the last quarter. Commerce Bank increased its stake in Robinhood Markets by 3.3% during the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after acquiring an additional 423 shares during the last quarter. Finally, Signaturefd LLC raised its position in Robinhood Markets by 16.5% during the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after purchasing an additional 487 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

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.