Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $21.00

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by The Goldman Sachs Group from $19.00 to $21.00 in a research report report published on Thursday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Other analysts have also issued research reports about the stock. KeyCorp lifted their price target on shares of Robinhood Markets from $22.00 to $23.00 and gave the company an overweight rating in a research report on Monday, April 22nd. Mizuho upped their price target on Robinhood Markets from $20.00 to $21.00 and gave the company a buy rating in a research note on Monday, May 6th. Needham & Company LLC reissued a hold rating on shares of Robinhood Markets in a research report on Thursday, June 6th. Sanford C. Bernstein began coverage on shares of Robinhood Markets in a research report on Thursday, March 14th. They issued an outperform rating and a $30.00 target price on the stock. Finally, Citigroup lifted their price target on shares of Robinhood Markets from $16.00 to $18.00 and gave the company a sell rating in a research report on Thursday, June 13th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $21.10.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $22.28 on Thursday. The stock’s fifty day moving average is $21.11 and its two-hundred day moving average is $17.18. The firm has a market capitalization of $19.58 billion, a P/E ratio of 148.53 and a beta of 1.84. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $24.28.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.13. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The firm had revenue of $618.00 million for the quarter, compared to analysts’ expectations of $552.74 million. During the same quarter in the previous year, the company posted ($0.57) EPS. The company’s revenue was up 40.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Robinhood Markets will post 0.55 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 25,049 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $17.04, for a total transaction of $426,834.96. Following the completion of the transaction, the chief executive officer now directly owns 32,584 shares of the company’s stock, valued at $555,231.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total transaction of $285,000.00. Following the completion of the sale, the insider now directly owns 956,247 shares of the company’s stock, valued at approximately $21,802,431.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 25,049 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $17.04, for a total value of $426,834.96. Following the completion of the transaction, the chief executive officer now owns 32,584 shares in the company, valued at approximately $555,231.36. The disclosure for this sale can be found here. Insiders have sold 1,494,233 shares of company stock valued at $29,762,641 in the last quarter. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HOOD. Vanguard Group Inc. lifted its position in shares of Robinhood Markets by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock worth $561,732,000 after buying an additional 2,459,702 shares during the last quarter. ARK Investment Management LLC raised its stake in Robinhood Markets by 6.4% during the 4th quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock worth $445,087,000 after acquiring an additional 2,101,325 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Robinhood Markets by 9.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock valued at $372,081,000 after acquiring an additional 2,517,012 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its stake in Robinhood Markets by 9.6% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock valued at $360,514,000 after acquiring an additional 2,486,986 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Robinhood Markets during the fourth quarter worth about $84,165,000. 93.27% of the stock is owned by institutional investors and hedge funds.

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.