Brokerages Set Robinhood Markets, Inc. (NASDAQ:HOOD) Target Price at $85.29

Key Points

• Robinhood Markets has received a consensus rating of “Moderate Buy” from 19 analysts, with an average price target of $85.29.
• Insider directors sold significant shares recently; notably, CEO Vladimir Tenev sold 750,000 shares for approximately $69.95 million.
• Institutional investors and hedge funds own 93.27% of Robinhood Markets, indicating strong support from large financial entities.

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nineteen analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $85.29.

HOOD has been the subject of several research analyst reports. Redburn Atlantic reaffirmed a "sell" rating and set a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $71.00 target price on shares of Robinhood Markets in a research note on Tuesday, May 27th. Barclays increased their target price on shares of Robinhood Markets from $57.00 to $102.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Mizuho increased their target price on Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. increased their target price on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st.

Robinhood Markets Stock Performance

Shares of HOOD traded up $0.81 during trading hours on Friday, hitting $105.66. 13,348,472 shares of the stock were exchanged, compared to its average volume of 41,538,414. Robinhood Markets has a 12-month low of $13.98 and a 12-month high of $113.44. The company has a market cap of $93.56 billion, a price-to-earnings ratio of 60.01, a price-to-earnings-growth ratio of 5.35 and a beta of 2.36. The stock's 50-day moving average price is $82.95 and its two-hundred day moving average price is $59.97.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The firm's quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 earnings per share. On average, research analysts expect that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the transaction, the insider directly owned 228,621 shares of the company's stock, valued at approximately $16,035,476.94. This trade represents a 31.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher D. Payne purchased 26,500 shares of the firm's stock in a transaction on Friday, June 13th. The shares were purchased at an average cost of $74.19 per share, with a total value of $1,966,035.00. Following the completion of the purchase, the director owned 26,500 shares in the company, valued at $1,966,035. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 2,602,488 shares of company stock valued at $213,925,690 over the last three months. 19.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently modified their holdings of the stock. TD Asset Management Inc lifted its holdings in shares of Robinhood Markets by 20.9% in the second quarter. TD Asset Management Inc now owns 390,839 shares of the company's stock valued at $36,594,000 after purchasing an additional 67,666 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Robinhood Markets by 67.7% during the second quarter. Axxcess Wealth Management LLC now owns 28,910 shares of the company's stock worth $2,707,000 after acquiring an additional 11,673 shares in the last quarter. Moran Wealth Management LLC bought a new position in Robinhood Markets during the second quarter valued at about $371,000. Nadler Financial Group Inc. acquired a new stake in shares of Robinhood Markets in the second quarter valued at about $361,000. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of Robinhood Markets by 155.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,480 shares of the company's stock valued at $2,760,000 after purchasing an additional 17,943 shares during 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.