Robinhood Markets (NASDAQ:HOOD) Given New $50.00 Price Target at Citigroup

Robinhood Markets (NASDAQ:HOOD) had its target price lowered by research analysts at Citigroup from $60.00 to $50.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 15.23% from the stock’s current price.

Several other analysts have also recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lowered their target price on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Compass Point started coverage on Robinhood Markets in a research note on Wednesday, March 19th. They set a “buy” rating and a $61.00 price target on the stock. KeyCorp lifted their price objective on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Piper Sandler boosted their price objective on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.24.

Robinhood Markets Trading Up 2.9 %

HOOD stock traded up $1.23 during trading on Wednesday, hitting $43.39. 24,999,796 shares of the stock traded hands, compared to its average volume of 22,018,155. The stock has a market cap of $38.42 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 1.05 and a beta of 2.14. Robinhood Markets has a one year low of $13.98 and a one year high of $66.91. The company has a 50 day simple moving average of $48.88 and a 200 day simple moving average of $38.60.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, analysts predict that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 228,645 shares of Robinhood Markets stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the completion of the sale, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $203,545.54. This trade represents a 97.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 2,955,655 shares of company stock valued at $143,072,448. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently modified their holdings of the business. Toronto Dominion Bank raised its stake in Robinhood Markets by 31.1% in the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after purchasing an additional 16,219 shares in the last quarter. IFP Advisors Inc raised its position in shares of Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock valued at $164,000 after buying an additional 3,769 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $634,000. Charles Schwab Investment Management Inc. grew its position in Robinhood Markets by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after buying an additional 138,267 shares in the last quarter. Finally, Atomi Financial Group Inc. increased its stake in Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after acquiring an additional 92,613 shares during the period. Institutional investors own 93.27% of the company’s stock.

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.