Robinhood Markets, Inc. (NASDAQ:HOOD) Receives $21.70 Average Price Target from Brokerages

Robinhood Markets, Inc. (NASDAQ:HOOD) has been assigned a consensus recommendation of “Hold” from the sixteen brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $22.70.

HOOD has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded Robinhood Markets from a “hold” rating to a “buy” rating and upped their price objective for the company from $21.00 to $24.00 in a research note on Thursday. JMP Securities reissued a “market outperform” rating and issued a $30.00 price objective on shares of Robinhood Markets in a report on Thursday, August 8th. Barclays cut their target price on shares of Robinhood Markets from $20.00 to $18.00 and set an “underweight” rating for the company in a research report on Monday. Bank of America raised their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday. Finally, Mizuho increased their target price on Robinhood Markets from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, May 6th.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 47,570 shares of Robinhood Markets stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $21.12, for a total transaction of $1,004,678.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Robinhood Markets news, Director Baiju Bhatt sold 120,236 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $22.20, for a total transaction of $2,669,239.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 47,570 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $21.12, for a total transaction of $1,004,678.40. The disclosure for this sale can be found here. Insiders have sold 1,231,246 shares of company stock valued at $25,375,917 in the last quarter. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Robinhood Markets by 1.8% during the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after buying an additional 1,003,535 shares during the period. Banque Cantonale Vaudoise boosted its holdings in Robinhood Markets by 21,404.0% during the 1st quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock valued at $1,948,000 after acquiring an additional 96,318 shares during the period. UniSuper Management Pty Ltd grew its position in Robinhood Markets by 87.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock worth $117,000 after acquiring an additional 2,700 shares during the last quarter. Wellington Management Group LLP purchased a new position in Robinhood Markets in the 4th quarter worth approximately $8,299,000. Finally, Strs Ohio bought a new stake in Robinhood Markets in the fourth quarter valued at approximately $750,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $19.55 on Friday. The business’s fifty day moving average is $21.51 and its 200-day moving average is $18.59. The stock has a market capitalization of $17.18 billion, a price-to-earnings ratio of 130.33 and a beta of 1.83. Robinhood Markets has a one year low of $7.91 and a one year high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The business had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The firm’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.03 earnings per share. Research analysts expect that Robinhood Markets will post 0.57 EPS for the current fiscal 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.