Robinhood Markets, Inc. (NASDAQ:HOOD) Receives $43.73 Average PT from Analysts

Robinhood Markets, Inc. (NASDAQ:HOOD) has been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $43.73.

Several analysts have recently weighed in on the company. KeyCorp upped their price objective on Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday. Citigroup raised their price objective on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price (up from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Keefe, Bruyette & Woods raised their target price 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. Finally, Piper Sandler upped their price target on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Baiju Bhatt sold 108,964 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $24.92, for a total value of $2,715,382.88. Following the completion of the sale, the director now directly owns 2,521 shares of the company’s stock, valued at approximately $62,823.32. The trade was a 97.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,047,400 shares of company stock worth $164,578,352. 19.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the business. HM Payson & Co. raised its holdings in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares in the last quarter. Commerce Bank lifted its holdings in Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after purchasing an additional 423 shares during the last quarter. Signaturefd LLC lifted its holdings in Robinhood Markets by 16.5% in the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after purchasing an additional 487 shares during the last quarter. Spire Wealth Management boosted its position in Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after purchasing an additional 549 shares during the period. Finally, Castleview Partners LLC grew its holdings in Robinhood Markets by 18.2% during the third quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock valued at $89,000 after purchasing an additional 582 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $51.95 on Friday. The stock’s 50 day moving average price is $41.88 and its 200 day moving average price is $30.18. The stock has a market cap of $45.92 billion, a price-to-earnings ratio of 88.05, a PEG ratio of 0.69 and a beta of 2.07. Robinhood Markets has a 12 month low of $10.51 and a 12 month high of $53.51.

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.