Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $43.00

Robinhood Markets (NASDAQ:HOOD) had its price target raised by Morgan Stanley from $40.00 to $43.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Citigroup cut their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Compass Point initiated coverage on Robinhood Markets in a report on Wednesday, March 19th. They set a “buy” rating and a $61.00 price target on the stock. JMP Securities reissued a “market outperform” rating and issued a $70.00 price objective on shares of Robinhood Markets in a research note on Thursday, May 1st. Cantor Fitzgerald decreased their price objective on Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Finally, Raymond James started coverage on Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating on the stock. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.41.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $60.68 on Tuesday. The stock has a market capitalization of $53.73 billion, a price-to-earnings ratio of 38.65, a PEG ratio of 1.05 and a beta of 2.15. The company has a 50 day moving average price of $44.76 and a 200 day moving average price of $43.31. Robinhood Markets has a 1-year low of $13.98 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $927.00 million for the quarter, compared to analysts’ expectations of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The company’s revenue for the quarter was up 50.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share. On average, sell-side analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $34.51, for a total value of $201,987.03. Following the completion of the sale, the chief technology officer now directly owns 5,853 shares in the company, valued at approximately $201,987.03. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the transaction, the insider now owns 706,642 shares in the company, valued at $42,942,634.34. The trade was a 6.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,947,622 shares of company stock valued at $89,994,656 over the last three months. 14.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC lifted its position in shares of Robinhood Markets by 184.8% during the 4th quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Norges Bank bought a new position in Robinhood Markets in the 4th quarter worth approximately $329,598,000. GQG Partners LLC acquired a new position in shares of Robinhood Markets during the fourth quarter worth approximately $302,325,000. Vanguard Group Inc. boosted its position in shares of Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock valued at $3,089,914,000 after acquiring an additional 5,874,701 shares during the period. Finally, AGF Management Ltd. grew its stake in shares of Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after acquiring an additional 4,255,862 shares during 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.