Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $77.00

Robinhood Markets (NASDAQ:HOOD) had its price target increased by JMP Securities from $60.00 to $77.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Several other research firms have also weighed in on HOOD. KeyCorp boosted their target price on shares of Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $20.00 to $43.00 in a report on Tuesday, January 7th. Raymond James began coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating on the stock. Sanford C. Bernstein upped their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, Morgan Stanley upped their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $58.07.

Robinhood Markets Trading Up 2.3 %

Shares of NASDAQ HOOD opened at $65.28 on Thursday. Robinhood Markets has a 12-month low of $13.04 and a 12-month high of $66.91. The stock has a market cap of $57.71 billion, a PE ratio of 110.65, a P/E/G ratio of 0.73 and a beta of 2.13. The company has a 50-day moving average of $45.45 and a 200 day moving average of $32.52.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating 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 forecast that Robinhood Markets will post 0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total value of $1,290,000.00. Following the sale, the insider now directly owns 706,642 shares of the company’s stock, valued at approximately $36,462,727.20. This represents a 3.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 90,866 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the completion of the sale, the director now directly owns 5,042 shares in the company, valued at approximately $279,024.28. This represents a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,948,427 shares of company stock worth $165,005,244 in the last ninety days. 19.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently modified their holdings of HOOD. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $26,000. HM Payson & Co. grew its position in shares of Robinhood Markets by 53.5% in the 3rd 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 last quarter. Eastern Bank purchased a new position in shares of Robinhood Markets in the 3rd quarter valued at $30,000. True Wealth Design LLC purchased a new position in shares of Robinhood Markets in the 3rd quarter valued at $30,000. Finally, Creative Financial Designs Inc. ADV grew its position in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after buying an additional 750 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.