Robinhood Markets (NASDAQ:HOOD) Given New $145.00 Price Target at Needham & Company LLC

Key Points

• Needham & Company LLC has increased its price target for Robinhood Markets from $120.00 to $145.00, indicating a potential upside of 6.06% from the stock's current price.
• The stock has seen significant analyst support, with eleven analysts rating it as a Buy and a consensus price target of $105.63.
• Insider transactions revealed that over 4.9 million shares have been sold, indicating a 19.95% ownership by corporate insiders.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) had its target price boosted by Needham & Company LLC from $120.00 to $145.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's target price would suggest a potential upside of 6.06% from the stock's current price.

Several other equities research analysts have also issued reports on the company. KeyCorp upped their price target on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Piper Sandler reissued an "overweight" rating and set a $140.00 price target (up from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Citigroup upped their price target on Robinhood Markets from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Tuesday, September 23rd. Compass Point upped their price target on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Finally, Cantor Fitzgerald increased their target price on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $105.63.

Robinhood Markets Trading Up 12.3%

Robinhood Markets stock opened at $136.72 on Tuesday. The stock has a market cap of $121.50 billion, a P/E ratio of 69.40, a price-to-earnings-growth ratio of 4.34 and a beta of 2.36. The stock has a 50 day moving average of $111.13 and a 200-day moving average of $80.02. Robinhood Markets has a 52 week low of $22.05 and a 52 week high of $136.84.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. The business had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business's revenue was up 45.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 EPS. As a group, equities analysts predict that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, insider Steven M. Quirk sold 60,113 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the transaction, the insider directly owned 94,454 shares of the company's stock, valued at approximately $9,531,353.14. This trade represents a 38.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Meyer Malka sold 1,093,288 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total value of $113,559,824.56. Following the transaction, the director directly owned 3,976,234 shares in the company, valued at $413,011,425.58. This trade represents a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,931,462 shares of company stock valued at $511,774,417. 19.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HOOD. Wellington Management Group LLP bought a new position in Robinhood Markets during the fourth quarter valued at about $588,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Robinhood Markets by 139.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after purchasing an additional 498 shares during the period. GAMMA Investing LLC boosted its position in shares of Robinhood Markets by 5,733.0% in the 1st quarter. GAMMA Investing LLC now owns 341,700 shares of the company's stock valued at $14,222,000 after purchasing an additional 335,842 shares during the period. Parallel Advisors LLC boosted its position in Robinhood Markets by 19.1% during the 1st quarter. Parallel Advisors LLC now owns 3,798 shares of the company's stock worth $158,000 after acquiring an additional 609 shares during the period. Finally, Rhumbline Advisers boosted its position in Robinhood Markets by 5.0% during the 1st quarter. Rhumbline Advisers now owns 784,187 shares of the company's stock worth $32,638,000 after acquiring an additional 37,640 shares during the period. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Company Profile

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.

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