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

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price target hoisted by research analysts at Citigroup from $45.00 to $60.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's price target points to a potential downside of 8.09% from the stock's previous close.

Several other analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price target 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. Needham & Company LLC lifted their price target on Robinhood Markets from $52.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday. KeyCorp boosted their target price on Robinhood Markets from $57.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on Robinhood Markets from $39.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Sanford C. Bernstein upped their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an "outperform" rating in a research report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $58.07.

Robinhood Markets Trading Up 2.3 %

Shares of HOOD stock traded up $1.48 during trading hours on Thursday, hitting $65.28. 39,248,779 shares of the company's stock were exchanged, compared to its average volume of 19,924,428. The company has a market capitalization of $57.71 billion, a PE ratio of 110.65, a PEG ratio of 0.73 and a beta of 2.13. Robinhood Markets has a 12-month low of $13.04 and a 12-month high of $66.91. The business's 50 day simple moving average is $45.45 and its 200-day simple moving average is $32.52.

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

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company's 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 completion of the sale, the chief technology officer now directly owns 11,752 shares of the company's stock, valued at approximately $445,635.84. This trade represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,948,427 shares of company stock worth $165,005,244. Company insiders own 19.95% of the company's stock.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently bought and sold shares of the business. Metavasi Capital LP acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $745,000. Mercer Global Advisors Inc. ADV grew its holdings in shares of Robinhood Markets by 224.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 103,583 shares of the company's stock worth $3,860,000 after buying an additional 71,652 shares in the last quarter. Itau Unibanco Holding S.A. grew its holdings in shares of Robinhood Markets by 1,907.2% during the fourth quarter. Itau Unibanco Holding S.A. now owns 47,972 shares of the company's stock worth $1,835,000 after buying an additional 45,582 shares in the last quarter. Comerica Bank grew its holdings in shares of Robinhood Markets by 167.3% in the fourth quarter. Comerica Bank now owns 11,894 shares of the company's stock valued at $443,000 after purchasing an additional 7,444 shares during the period. Finally, Regal Partners Ltd purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at about $932,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Company Profile

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.