Barclays Issues Positive Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD) had its target price upped by equities research analysts at Barclays from $54.00 to $76.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 35.93% from the stock’s current price.

HOOD has been the subject of a number of other research reports. Morgan Stanley upped their price objective on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday. Keefe, Bruyette & Woods increased their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a report on Friday, December 20th. KeyCorp lifted their price objective on shares of Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. JMP Securities upped their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $20.00 to $43.00 in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and a consensus target price of $51.07.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $55.91 on Thursday. The company has a market capitalization of $49.42 billion, a P/E ratio of 94.76, a P/E/G ratio of 0.73 and a beta of 2.13. Robinhood Markets has a 1-year low of $11.43 and a 1-year high of $57.27. The firm’s 50 day simple moving average is $44.48 and its two-hundred day simple moving average is $31.90.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. On average, sell-side analysts anticipate that Robinhood Markets will post 0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $37.92, for a total transaction of $222,817.92. Following the transaction, the chief technology officer now directly owns 11,752 shares of the company’s stock, valued at approximately $445,635.84. This represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,948,427 shares of company stock valued at $165,005,244 over the last ninety days. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIG Capital LLC purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $339,000. Russell Investments Group Ltd. lifted its stake in shares of Robinhood Markets by 43.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,124,276 shares of the company’s stock worth $41,891,000 after acquiring an additional 342,350 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Robinhood Markets by 80.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 252,766 shares of the company’s stock valued at $9,418,000 after acquiring an additional 112,807 shares during the period. Aviva PLC boosted its holdings in Robinhood Markets by 115.9% during the 4th quarter. Aviva PLC now owns 301,719 shares of the company’s stock valued at $11,242,000 after acquiring an additional 161,978 shares during the period. Finally, Resona Asset Management Co. Ltd. bought a new position in Robinhood Markets in the 4th quarter valued at $5,556,000. 93.27% of the stock is owned by hedge funds and other 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.