Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $60.00

Robinhood Markets (NASDAQ:HOOD) had its price target boosted by analysts at Keefe, Bruyette & Woods from $38.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential downside of 8.09% from the stock’s current price.

A number of other research analysts have also recently issued reports on HOOD. Citigroup lifted their price target on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Raymond James began coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday. Finally, Morgan Stanley increased their target price on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.53.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $65.28 on Tuesday. The firm has a market capitalization of $57.71 billion, a P/E ratio of 110.65, a P/E/G ratio of 0.73 and a beta of 2.13. The stock has a 50 day moving average price of $45.96 and a 200-day moving average price of $32.92. Robinhood Markets has a 52-week low of $13.04 and a 52-week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. On average, equities analysts forecast that Robinhood Markets will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the completion of the transaction, the insider now directly owns 706,642 shares of the company’s stock, valued at approximately $36,462,727.20. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 90,866 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the completion of the sale, the director now owns 5,042 shares in the company, valued at approximately $279,024.28. The trade was a 94.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,948,427 shares of company stock valued at $165,005,244. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently made changes to their positions in the company. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of Robinhood Markets in the fourth quarter valued at $1,751,000. Castleark Management LLC bought a new position in Robinhood Markets during the fourth quarter valued at $839,000. Focus Partners Advisor Solutions LLC bought a new position in Robinhood Markets during the fourth quarter valued at $287,000. Connective Capital Management LLC purchased a new position in shares of Robinhood Markets in the 4th quarter worth $545,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Robinhood Markets by 25.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,727,467 shares of the company’s stock worth $101,625,000 after buying an additional 548,798 shares during the last quarter. 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.