Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its target price lifted by investment analysts at Keefe, Bruyette & Woods from $38.00 to $60.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target points to a potential upside of 16.28% from the stock's current price.

A number of other equities analysts have also commented on HOOD. Deutsche Bank Aktiengesellschaft raised their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Wolfe Research lowered Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday. Sanford C. Bernstein raised their price target on Robinhood Markets from $30.00 to $51.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Citigroup raised their price target on Robinhood Markets from $45.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, Needham & Company LLC upped their target price on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $59.53.

Robinhood Markets Stock Down 8.0 %

HOOD traded down $4.46 during trading hours on Tuesday, hitting $51.60. The stock had a trading volume of 33,522,577 shares, compared to its average volume of 25,542,662. Robinhood Markets has a 1 year low of $13.59 and a 1 year high of $66.91. The company's fifty day simple moving average is $47.42 and its 200 day simple moving average is $33.80. The stock has a market cap of $45.61 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 1.11 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (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%. As a group, equities analysts expect that Robinhood Markets will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 522,180 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the transaction, the director now owns 5,042 shares of the company's stock, valued at $316,133.40. This represents a 99.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the sale, the insider now owns 706,642 shares of the company's stock, valued at approximately $42,942,634.34. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,520,607 shares of company stock valued at $200,784,430 over the last 90 days. 19.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds have recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after acquiring an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC grew its position in Robinhood Markets by 1.1% during the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after acquiring an additional 273,860 shares during the last quarter. State Street Corp grew its position in Robinhood Markets by 8.7% during the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company's stock worth $317,536,000 after acquiring an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC grew its position in Robinhood Markets by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock worth $455,464,000 after acquiring an additional 555,299 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Robinhood Markets by 34.4% during the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after acquiring an additional 3,091,514 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

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.