Robinhood Markets (NASDAQ:HOOD) Given New $115.00 Price Target at Keefe, Bruyette & Woods

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by analysts at Keefe, Bruyette & Woods from $100.00 to $115.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential downside of 1.25% from the company’s previous close.

Several other analysts also recently commented on the company. The Goldman Sachs Group upped their price objective on Robinhood Markets from $124.00 to $142.00 and gave the company a “buy” rating in a research note on Tuesday, September 8th. BTIG Research reiterated a “buy” rating and issued a $125.00 target price on shares of Robinhood Markets in a research note on Thursday, July 30th. China Renaissance assumed coverage on Robinhood Markets in a research note on Tuesday, July 7th. They set a “buy” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Robinhood Markets in a report on Tuesday, September 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a research report on Monday, September 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.00.

Robinhood Markets Trading Down 2.5%

NASDAQ HOOD opened at $116.46 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $104.71 billion, a PE ratio of 51.30, a P/E/G ratio of 2.38 and a beta of 2.34. Robinhood Markets has a one year low of $63.51 and a one year high of $153.86. The firm’s fifty day moving average is $105.03 and its two-hundred day moving average is $92.80.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the company earned $0.42 earnings per share. The business’s revenue was up 32.5% compared to the same quarter last year. Analysts expect that Robinhood Markets will post 2.15 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 50,317 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $96.80, for a total transaction of $4,870,685.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Quirk sold 24,416 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $120.33, for a total value of $2,937,977.28. Following the completion of the sale, the insider directly owned 77,839 shares of the company’s stock, valued at $9,366,366.87. This represents a 23.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,121,121 shares of company stock worth $132,674,478 in the last three months. 13.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its position in 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 buying an additional 875,297 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Robinhood Markets by 10.2% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,812,999 shares of the company’s stock valued at $472,141,000 after acquiring an additional 632,403 shares during the last quarter. Amundi lifted its holdings in shares of Robinhood Markets by 89.0% during the 1st quarter. Amundi now owns 6,385,232 shares of the company’s stock worth $442,497,000 after acquiring an additional 3,007,103 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Robinhood Markets in the second quarter worth approximately $379,695,000. Finally, Amova Asset Management Americas Inc. grew its holdings in Robinhood Markets by 15.0% in the first quarter. Amova Asset Management Americas Inc. now owns 5,240,796 shares of the company’s stock valued at $362,925,000 after purchasing an additional 685,041 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) operates a financial services platform designed to provide investing and trading products through mobile applications and a website. Its offerings include commission-free trading in stocks and exchange-traded funds, options trading, cryptocurrency services, margin investing, and retirement accounts. The company also provides cash management features and other tools intended to help customers manage and invest their money.

Founded in 2013 by Vlad Tenev and Baiju Bhatt, Robinhood gained prominence by expanding access to investing through a low-cost, easy-to-use digital platform.