Robinhood Markets, Inc. (NASDAQ:HOOD) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have been assigned an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $43.73.

HOOD has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Barclays raised their price objective on Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Raymond James initiated coverage on Robinhood Markets in a research note on Wednesday. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $20.00 to $43.00 in a research note on Tuesday, January 7th. Finally, Morgan Stanley lifted their target price on Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, January 17th.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the transaction, the insider now owns 706,642 shares in the company, valued at approximately $36,462,727.20. The trade was a 3.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Meyer Malka sold 1,535,681 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the completion of the transaction, the director now owns 4,974,238 shares of the company’s stock, valued at approximately $199,516,686.18. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,857,561 shares of company stock valued at $159,976,719 in the last quarter. 19.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC boosted its holdings in shares of Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares during the period. State Street Corp boosted its holdings in shares of Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after purchasing an additional 1,085,679 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Robinhood Markets by 19.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after purchasing an additional 1,895,427 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after purchasing an additional 138,267 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Robinhood Markets by 19.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company’s stock valued at $179,463,000 after acquiring an additional 739,631 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Down 1.9 %

NASDAQ HOOD opened at $53.17 on Friday. The stock’s 50-day moving average price is $43.13 and its 200-day moving average price is $30.91. Robinhood Markets has a 52 week low of $10.64 and a 52 week high of $54.88. The company has a market capitalization of $47.00 billion, a P/E ratio of 90.12, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13.

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.