Robinhood Markets (NASDAQ:HOOD) Raised to Moderate Buy at Dbs Bank

Robinhood Markets (NASDAQ:HOOD) was upgraded by stock analysts at Dbs Bank to a “moderate buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities analysts also recently weighed in on the stock. Citizens Jmp increased their price target on shares of Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. Piper Sandler reissued an “overweight” rating and set a $140.00 target price (up previously from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. The Goldman Sachs Group raised their price target on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Bank of America lifted their price target on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Finally, Citigroup increased their price objective on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Fifteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell 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 $132.65.

Robinhood Markets Price Performance

NASDAQ:HOOD traded up $0.97 during mid-day trading on Wednesday, reaching $122.50. The company’s stock had a trading volume of 31,979,812 shares, compared to its average volume of 27,116,374. The stock has a market cap of $110.15 billion, a P/E ratio of 50.83, a P/E/G ratio of 2.78 and a beta of 2.42. The company’s fifty day simple moving average is $132.81 and its two-hundred day simple moving average is $102.40. Robinhood Markets has a twelve month low of $29.66 and a twelve month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The company’s quarterly revenue was up 100.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 EPS. Sell-side analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $146.91, for a total value of $861,480.24. Following the sale, the chief technology officer directly owned 6,088 shares in the company, valued at approximately $894,388.08. The trade was a 49.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 4,297,404 shares of company stock worth $529,026,559. 14.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds have recently bought and sold shares of HOOD. Envestnet Asset Management Inc. grew its position in shares of Robinhood Markets by 30.0% during the first quarter. Envestnet Asset Management Inc. now owns 328,511 shares of the company’s stock worth $13,673,000 after buying an additional 75,745 shares in the last quarter. Stephens Inc. AR acquired a new position in Robinhood Markets during the 1st quarter worth $243,000. Larson Financial Group LLC grew its holdings in Robinhood Markets by 66.0% during the 1st quarter. Larson Financial Group LLC now owns 1,524 shares of the company’s stock worth $63,000 after acquiring an additional 606 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Robinhood Markets by 9.9% in the 1st quarter. Victory Capital Management Inc. now owns 242,022 shares of the company’s stock worth $10,073,000 after purchasing an additional 21,862 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in shares of Robinhood Markets by 116.9% in the 1st quarter. Kingsview Wealth Management LLC now owns 34,622 shares of the company’s stock valued at $1,441,000 after purchasing an additional 18,657 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.