Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $76.00 at Barclays

Robinhood Markets (NASDAQ:HOOD) had its price objective increased by Barclays from $54.00 to $76.00 in a research report sent to investors on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on HOOD. Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Mizuho upped their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. KeyCorp raised their target price on shares of Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Piper Sandler boosted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Finally, The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price objective for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.07.

Robinhood Markets Trading Up 14.1 %

Shares of Robinhood Markets stock opened at $63.80 on Thursday. The company’s 50-day moving average price is $44.98 and its 200-day moving average price is $32.13. Robinhood Markets has a 12-month low of $12.77 and a 12-month high of $66.91. The company has a market cap of $56.40 billion, a price-to-earnings ratio of 108.14, a PEG ratio of 0.73 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last posted 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%. On average, sell-side analysts predict that Robinhood Markets will post 0.97 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, insider Steven M. Quirk sold 19,861 shares of the company’s stock in a transaction on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the transaction, the insider now directly owns 395,166 shares in the company, valued at approximately $14,834,531.64. This represents a 4.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,948,427 shares of company stock valued at $165,005,244. Insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Several institutional investors and hedge funds have recently bought and sold shares of HOOD. Dorsey & Whitney Trust CO LLC raised its position in shares of Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after acquiring an additional 233 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Robinhood Markets by 7.8% in the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after purchasing an additional 277 shares in the last quarter. HM Payson & Co. lifted its position in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares during the period. Commerce Bank lifted its position in Robinhood Markets by 3.3% during the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after buying an additional 423 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of Robinhood Markets by 16.5% during the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after buying an additional 487 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other 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.