Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price gapped down prior to trading on Friday after Needham & Company LLC lowered their price target on the stock from $70.00 to $62.00. The stock had previously closed at $43.99, but opened at $42.69. Needham & Company LLC currently has a buy rating on the stock. Robinhood Markets shares last traded at $40.88, with a volume of 10,994,238 shares traded.
Other equities analysts also recently issued reports about the company. The Goldman Sachs Group upgraded Robinhood Markets from a "neutral" rating to a "buy" rating and raised their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. Citigroup raised their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Barclays upped their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Cantor Fitzgerald began coverage on shares of Robinhood Markets in a research report on Thursday, March 6th. They set an "overweight" rating and a $69.00 price target for the company. Finally, Piper Sandler upped their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $60.82.
Read Our Latest Analysis on Robinhood Markets
Insider Activity at Robinhood Markets
In related news, Director Baiju Bhatt sold 228,645 shares of Robinhood Markets stock in a transaction 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 transaction, the director now directly owns 5,042 shares in the company, valued at approximately $203,545.54. The trade was a 97.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was 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. Over the last ninety days, insiders sold 2,955,655 shares of company stock worth $143,072,448. 19.95% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB raised its stake in Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after acquiring an additional 498 shares during the period. Wellington Management Group LLP bought a new stake in shares of Robinhood Markets during the 4th quarter valued at $588,000. Kilter Group LLC bought a new position in Robinhood Markets in the 4th quarter worth $240,000. Siemens Fonds Invest GmbH purchased a new stake in Robinhood Markets in the 4th quarter worth $217,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Robinhood Markets during the fourth quarter valued at about $4,886,000. 93.27% of the stock is owned by hedge funds and other institutional investors.
Robinhood Markets Stock Up 1.3 %
The business has a 50 day moving average price of $48.88 and a two-hundred day moving average price of $38.60. The stock has a market cap of $37.33 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share 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%. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.
Robinhood Markets Company Profile
(
Get Free Report)
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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