Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $25.00 at The Goldman Sachs Group

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by stock analysts at The Goldman Sachs Group from $22.50 to $25.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential downside of 6.72% from the company’s previous close.

A number of other research firms have also commented on HOOD. Wolfe Research upgraded Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a research report on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Citigroup raised their target price on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. Finally, JMP Securities restated a “market outperform” rating and issued a $30.00 price objective on shares of Robinhood Markets in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.10.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $26.80 on Monday. The company’s fifty day moving average is $21.49 and its 200-day moving average is $20.69. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $27.33. The company has a market capitalization of $23.55 billion, a PE ratio of 178.67 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. The firm 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 12.96% and a return on equity of 4.25%. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period last year, the firm posted $0.03 EPS. On average, analysts forecast that Robinhood Markets will post 0.76 EPS for the current year.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Jason Warnick sold 25,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $20.96, for a total transaction of $524,000.00. Following the transaction, the chief financial officer now owns 1,077,162 shares of the company’s stock, valued at $22,577,315.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The disclosure for this sale can be found here. Insiders have sold 4,541,250 shares of company stock worth $107,643,767 over the last ninety days. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in Robinhood Markets by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after buying an additional 2,094,800 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Robinhood Markets by 169.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock worth $40,092,000 after purchasing an additional 1,251,495 shares during the period. AQR Capital Management LLC raised its position in shares of Robinhood Markets by 274.7% during the second quarter. AQR Capital Management LLC now owns 1,661,824 shares of the company’s stock worth $37,341,000 after purchasing an additional 1,218,317 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Robinhood Markets by 7,622.2% during the 2nd quarter. Acadian Asset Management LLC now owns 1,040,877 shares of the company’s stock valued at $23,625,000 after purchasing an additional 1,027,398 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Robinhood Markets by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after purchasing an additional 1,003,535 shares during the period. 93.27% of the stock is owned by 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.