Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $60.00 at Citigroup

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by Citigroup from $45.00 to $60.00 in a report released on Thursday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research firms have also recently issued reports on HOOD. Sanford C. Bernstein raised their price objective on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Keefe, Bruyette & Woods lifted their price target on Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a report on Friday, December 20th. JPMorgan Chase & Co. increased their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday. Piper Sandler boosted their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $58.07.

Robinhood Markets Trading Up 14.1 %

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

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. As a group, research analysts predict that Robinhood Markets will post 0.97 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total transaction of $477,750.00. Following the sale, the insider now directly owns 1,106,955 shares in the company, valued at $42,307,820.10. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,948,427 shares of company stock valued at $165,005,244 over the last three months. 19.95% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted its holdings in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Norges Bank acquired a new position in shares of Robinhood Markets in the 4th quarter valued at approximately $329,598,000. GQG Partners LLC purchased a new position in shares of Robinhood Markets during the 4th quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership acquired a new stake in shares of Robinhood Markets during the fourth quarter worth approximately $152,949,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after buying an additional 3,817,355 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Company Profile

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.