Robinhood Markets (NASDAQ:HOOD) Price Target Lowered to $61.00 at Deutsche Bank Aktiengesellschaft

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its price target reduced by equities research analysts at Deutsche Bank Aktiengesellschaft from $75.00 to $61.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft's price objective points to a potential upside of 67.77% from the stock's previous close.

A number of other research firms also recently commented on HOOD. Keefe, Bruyette & Woods upped their price objective on Robinhood Markets from $38.00 to $60.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. upped their target price 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. Piper Sandler raised their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Needham & Company LLC boosted their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group raised Robinhood Markets from a "neutral" rating to a "buy" rating and upped their price target for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and an average price target of $61.31.

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Robinhood Markets Stock Performance

Shares of HOOD stock opened at $36.36 on Wednesday. Robinhood Markets has a 52 week low of $13.98 and a 52 week high of $66.91. The stock has a market capitalization of $32.20 billion, a PE ratio of 23.16, a PEG ratio of 1.05 and a beta of 2.14. The stock's fifty day moving average is $48.96 and its 200-day moving average is $36.25.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.53% and a net margin of 47.81%. As a group, analysts forecast that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the company's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total value of $11,253,000.00. Following the transaction, the insider now directly owns 806,955 shares of the company's stock, valued at $30,268,882.05. This represents a 27.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $37.92, for a total value of $222,817.92. Following the transaction, the chief technology officer now owns 11,752 shares in the company, valued at $445,635.84. The trade was a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,985,127 shares of company stock worth $142,455,378 over the last ninety days. Insiders own 19.95% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank raised its position in Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company's stock valued at $1,602,000 after purchasing an additional 16,219 shares in the last quarter. IFP Advisors Inc increased its holdings in Robinhood Markets by 601.1% in the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock worth $164,000 after purchasing an additional 3,769 shares in the last quarter. Everence Capital Management Inc. bought a new position in Robinhood Markets in the 4th quarter valued at approximately $634,000. Atomi Financial Group Inc. lifted its stake in shares of Robinhood Markets by 20.7% in the fourth 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. Finally, Requisite Capital Management LLC acquired a new position in shares of Robinhood Markets in the 4th quarter worth approximately $266,000. Institutional investors and hedge funds 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.

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