Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD) had its price objective raised by analysts at Deutsche Bank Aktiengesellschaft from $136.00 to $138.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 20.88% from the company’s previous close.

Several other research analysts also recently commented on HOOD. The Goldman Sachs Group raised their price objective on shares of Robinhood Markets from $124.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. Wall Street Zen raised Robinhood Markets from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Mizuho raised their price target on Robinhood Markets from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, September 9th. BTIG Research restated a “buy” rating and issued a $125.00 price objective on shares of Robinhood Markets in a report on Thursday, July 30th. Finally, Barclays dropped their target price on Robinhood Markets from $122.00 to $105.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $130.88.

Robinhood Markets Stock Up 1.4%

Shares of Robinhood Markets stock traded up $1.59 on Monday, hitting $114.16. The company had a trading volume of 11,942,362 shares, compared to its average volume of 27,624,928. The stock has a 50 day moving average of $103.62 and a 200-day moving average of $89.80. Robinhood Markets has a 1 year low of $63.51 and a 1 year high of $153.86. The stock has a market capitalization of $102.64 billion, a price-to-earnings ratio of 50.35, a P/E/G ratio of 2.30 and a beta of 2.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.18. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The firm’s revenue for the quarter was up 32.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Robinhood Markets will post 2.11 earnings per share for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, Director Oluwadara Treseder sold 1,875 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $125.00, for a total transaction of $234,375.00. Following the transaction, the director owned 70,567 shares of the company’s stock, valued at approximately $8,820,875. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 50,317 shares of Robinhood Markets stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $96.80, for a total value of $4,870,685.60. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 566,276 shares of company stock worth $63,721,282. 13.48% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. California State Teachers Retirement System lifted its position in shares of Robinhood Markets by 9,976.4% during the 2nd quarter. California State Teachers Retirement System now owns 113,132,988 shares of the company’s stock valued at $11,344,976,000 after buying an additional 112,010,233 shares in the last quarter. State Street Corp grew its stake in shares of Robinhood Markets by 2.7% during the fourth quarter. State Street Corp now owns 33,121,452 shares of the company’s stock worth $3,746,036,000 after purchasing an additional 875,297 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Robinhood Markets by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock valued at $2,386,944,000 after purchasing an additional 356,902 shares in the last quarter. Morgan Stanley boosted its stake in Robinhood Markets by 23.9% in the fourth quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock valued at $1,208,335,000 after acquiring an additional 2,061,832 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $1,202,160,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

About Robinhood Markets

Robinhood Markets, Inc is a financial services company that operates a digital investing and trading platform. Through its mobile app and website, the company provides access to U.S. stocks, exchange-traded funds, options, cryptocurrencies and other investment products. Robinhood also offers individual retirement accounts, margin investing and cash-management services, subject to applicable eligibility requirements and regulations.

The company generates revenue from sources that include interest earned on customer cash and margin balances, transaction-based revenue related to options and cryptocurrency trading, subscription fees for Robinhood Gold and other service-related activities.