Cantor Fitzgerald Begins Coverage on Robinhood Markets (NASDAQ:HOOD)

Cantor Fitzgerald assumed coverage on shares of Robinhood Markets (NASDAQ:HOOD) in a report issued on Thursday, Marketbeat.com reports. The brokerage issued an overweight rating and a $69.00 price target on the stock.

A number of other research firms also recently issued reports on HOOD. Wolfe Research downgraded Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. KeyCorp increased their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Sanford C. Bernstein lifted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Barclays lifted their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Citigroup lifted their target price on shares of Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and a consensus target price of $60.13.

Robinhood Markets Trading Down 6.8 %

Shares of HOOD opened at $44.84 on Thursday. The company has a market capitalization of $39.70 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 1.05 and a beta of 2.14. The stock has a 50 day moving average of $48.93 and a 200 day moving average of $35.64. Robinhood Markets has a 12 month low of $13.98 and a 12 month high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results 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%. As a group, equities research analysts predict that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the completion of the transaction, the insider now owns 806,955 shares of the company’s stock, valued at $30,268,882.05. The trade was a 27.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,165,788 shares of company stock valued at $149,293,178. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of HOOD. International Assets Investment Management LLC grew its stake in Robinhood Markets by 301.5% in the 3rd quarter. International Assets Investment Management LLC now owns 7,026 shares of the company’s stock worth $165,000 after buying an additional 5,276 shares in the last quarter. US Bancorp DE grew its stake in Robinhood Markets by 94.0% in the 3rd quarter. US Bancorp DE now owns 27,751 shares of the company’s stock worth $650,000 after buying an additional 13,448 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Robinhood Markets by 834.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,504 shares of the company’s stock worth $152,000 after buying an additional 5,808 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in Robinhood Markets by 2.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 184,586 shares of the company’s stock worth $4,323,000 after buying an additional 4,325 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in Robinhood Markets by 515.0% in the 3rd quarter. QRG Capital Management Inc. now owns 80,784 shares of the company’s stock worth $1,892,000 after buying an additional 67,649 shares in the last quarter. 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.