Robinhood Markets (NASDAQ:HOOD) Now Covered by Raymond James

Raymond James initiated coverage on shares of Robinhood Markets (NASDAQ:HOOD) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The firm issued a market perform rating on the stock.

A number of other equities analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Piper Sandler raised their target price on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. JMP Securities boosted their price target 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. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.73.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $54.20 on Wednesday. Robinhood Markets has a one year low of $10.53 and a one year high of $54.33. The company has a 50-day simple moving average of $42.82 and a 200-day simple moving average of $30.75. The firm has a market capitalization of $47.91 billion, a PE ratio of 91.87, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 19,861 shares of Robinhood Markets stock in a transaction that occurred on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total value of $745,581.94. Following the transaction, the insider now owns 395,166 shares of the company’s stock, valued at $14,834,531.64. The trade was a 4.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the sale, the insider now directly owns 706,642 shares of the company’s stock, valued at approximately $36,462,727.20. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,857,561 shares of company stock worth $159,976,719 over the last ninety days. Company insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its position in shares of Robinhood Markets by 157.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,697 shares of the company’s stock valued at $103,000 after acquiring an additional 1,649 shares during the last quarter. Pathway Capital Management LP acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $8,104,000. Metis Global Partners LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at $276,000. West Michigan Advisors LLC acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $299,000. Finally, Williamson Legacy Group LLC purchased a new position in Robinhood Markets in the 4th quarter worth about $237,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.