Robinhood Markets (NASDAQ:HOOD) Given New $61.00 Price Target at Deutsche Bank Aktiengesellschaft

Robinhood Markets (NASDAQ:HOOD) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $75.00 to $61.00 in a research report released on Wednesday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on the stock. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a research report on Thursday, March 6th. They set an “overweight” rating and a $69.00 target price for the company. Mizuho increased their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and increased their target price for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Finally, Piper Sandler raised their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.31.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $38.92 on Wednesday. Robinhood Markets has a 52-week low of $13.98 and a 52-week high of $66.91. The company has a 50-day simple moving average of $49.00 and a 200 day simple moving average of $36.26. The company has a market capitalization of $34.46 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, analysts forecast that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 11,752 shares in the company, valued at $445,635.84. The trade was a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the sale, the insider now owns 806,955 shares of the company’s stock, valued at approximately $30,268,882.05. The trade was a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,985,127 shares of company stock worth $142,455,378 over the last three months. 19.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HOOD. Axxcess Wealth Management LLC raised its stake in shares of Robinhood Markets by 3.1% during the third quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock worth $463,000 after acquiring an additional 598 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of Robinhood Markets by 182.6% during the third quarter. GSA Capital Partners LLP now owns 80,419 shares of the company’s stock worth $1,883,000 after acquiring an additional 51,959 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Robinhood Markets during the third quarter worth approximately $770,000. Victory Capital Management Inc. raised its stake in shares of Robinhood Markets by 85.3% during the third quarter. Victory Capital Management Inc. now owns 117,383 shares of the company’s stock worth $2,749,000 after acquiring an additional 54,046 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new position in shares of Robinhood Markets during the third quarter worth approximately $122,000. 93.27% of the stock is 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.