Robinhood Markets (NASDAQ:HOOD) Given New $54.00 Price Target at Barclays

Robinhood Markets (NASDAQ:HOOD - Free Report) had its price target lifted by Barclays from $49.00 to $54.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also issued reports on HOOD. JMP Securities lifted their price target on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a "market outperform" rating in a report on Tuesday, November 12th. Citigroup boosted their price target on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday. The Goldman Sachs Group upgraded shares of Robinhood Markets from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Needham & Company LLC restated a "buy" rating and set a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Finally, Piper Sandler upped their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an "overweight" rating in a research note on Monday, December 2nd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $42.47.

Robinhood Markets Stock Down 1.2 %

NASDAQ HOOD traded down $0.49 during trading on Monday, reaching $39.59. 13,671,068 shares of the stock traded hands, compared to its average volume of 17,213,789. The firm has a market cap of $35.00 billion, a price-to-earnings ratio of 67.10, a price-to-earnings-growth ratio of 0.81 and a beta of 2.07. The stock's 50-day moving average price is $37.30 and its 200 day moving average price is $27.61. Robinhood Markets has a fifty-two week low of $10.38 and a fifty-two week high of $43.83.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same period in the prior year, the firm earned ($0.09) EPS. The business's revenue for the quarter was up 36.4% compared to the same quarter last year. Analysts anticipate that Robinhood Markets will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the company's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $40.45, for a total transaction of $4,045,000.00. Following the completion of the sale, the insider now directly owns 731,642 shares in the company, valued at $29,594,918.90. This represents a 12.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $42.64, for a total value of $250,552.64. Following the completion of the sale, the chief technology officer now owns 5,876 shares of the company's stock, valued at approximately $250,552.64. This trade represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,708,196 shares of company stock valued at $138,845,043. Corporate insiders own 19.95% of the company's stock.

Institutional Trading of Robinhood Markets

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Robinhood Markets by 1,211,858.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company's stock valued at $89,410,000 after buying an additional 3,817,355 shares during the period. Azora Capital LP acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at about $79,780,000. FMR LLC lifted its position in Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company's stock worth $330,914,000 after acquiring an additional 3,368,118 shares during the period. Renaissance Technologies LLC lifted its position in Robinhood Markets by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company's stock worth $173,770,000 after acquiring an additional 2,094,800 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Robinhood Markets by 19.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company's stock worth $271,708,000 after buying an additional 1,895,427 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.