Robinhood Markets (NASDAQ:HOOD) Now Covered by Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Robinhood Markets (NASDAQ:HOOD) in a research report report published on Thursday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $69.00 price objective on the stock.

HOOD has been the topic of a number of other research reports. Sanford C. Bernstein upped their price target on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods upped their price target on Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Citigroup upped their price target on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, KeyCorp upped their target price on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $60.13.

Robinhood Markets Stock Down 6.8 %

Shares of HOOD opened at $44.84 on Thursday. Robinhood Markets has a 12-month low of $13.98 and a 12-month high of $66.91. The business has a 50-day simple moving average of $48.93 and a two-hundred day simple moving average of $35.64. The stock has a market cap of $39.70 billion, a PE ratio of 28.56, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results 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%. On average, equities research analysts expect that Robinhood Markets will post 1.35 EPS for the current year.

Insider Buying and Selling

In other news, insider Steven M. Quirk sold 123,272 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.80, for a total value of $6,878,577.60. Following the completion of the sale, the insider now directly owns 298,826 shares of the company’s stock, valued at $16,674,490.80. This represents a 29.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $49.02, for a total value of $1,225,500.00. Following the completion of the sale, the insider now directly owns 822,893 shares of the company’s stock, valued at approximately $40,338,214.86. This trade represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,165,788 shares of company stock valued at $149,293,178. 19.95% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of the stock. MetLife Investment Management LLC raised its stake in shares of Robinhood Markets by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock worth $440,000 after purchasing an additional 171 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after purchasing an additional 233 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of 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 during the last quarter. Commerce Bank raised its stake in shares of Robinhood Markets by 3.3% in the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after purchasing an additional 423 shares during the last quarter. Finally, Spire Wealth Management raised its stake in shares of Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after purchasing an additional 549 shares during the last quarter. 93.27% of the stock is 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.