Robinhood Markets (NASDAQ:HOOD) Coverage Initiated at Compass Point

Compass Point began coverage on shares of Robinhood Markets (NASDAQ:HOOD - Free Report) in a report released on Wednesday, MarketBeat reports. The firm issued a buy rating and a $61.00 target price on the stock.

A number of other research analysts have also recently commented on HOOD. Sanford C. Bernstein upped their price target on Robinhood Markets from $30.00 to $51.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft cut their price objective on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. KeyCorp upped 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. JMP Securities upped their price objective on Robinhood Markets from $60.00 to $77.00 and gave the stock a "market outperform" rating in a research report on Thursday, February 13th. Finally, Wolfe Research lowered Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average target price of $61.29.

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Robinhood Markets Price Performance

HOOD traded up $0.70 during trading hours on Wednesday, reaching $44.36. The company's stock had a trading volume of 43,555,704 shares, compared to its average volume of 21,055,087. Robinhood Markets has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The stock has a market cap of $39.28 billion, a PE ratio of 28.25, a P/E/G ratio of 1.05 and a beta of 2.14. The business's 50-day moving average is $49.04 and its 200-day moving average is $37.16.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Analysts expect that Robinhood Markets will post 1.35 EPS for the current year.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $49.02, for a total transaction of $1,225,500.00. Following the transaction, the insider now owns 822,893 shares of the company's stock, valued at $40,338,214.86. This trade represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the transaction, the chief technology officer now directly owns 17,559 shares in the company, valued at approximately $821,936.79. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,979,251 shares of company stock worth $142,232,560. Corporate insiders own 19.95% of the company's stock.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MetLife Investment Management LLC grew its holdings in shares of Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after buying an additional 171 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock worth $368,000 after buying an additional 233 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock valued at $142,000 after purchasing an additional 277 shares in the last quarter. Commerce Bank boosted its holdings in Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company's stock valued at $310,000 after purchasing an additional 423 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock valued at $40,000 after purchasing an additional 549 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

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.