Robinhood Markets (NASDAQ:HOOD) Given Overweight Rating at Piper Sandler

Key Points

• Piper Sandler has reissued an "overweight" rating for Robinhood Markets, raising its price target from $120.00 to $140.00, indicating a potential upside of 11.69% from the current price.
• Multiple analysts, including Goldman Sachs and Mizuho, have raised their price targets on Robinhood shares, contributing to a consensus rating of "Moderate Buy" with a target price of $104.06.
• Insider selling has occurred recently, with the Chief Technology Officer selling shares at approximately $99.83, reflecting a 19.85% decrease in their ownership of the stock.

Robinhood Markets (NASDAQ:HOOD - Get Free Report)'s stock had its "overweight" rating reissued by Piper Sandler in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $140.00 price target on the stock, up from their previous price target of $120.00. Piper Sandler's price target would indicate a potential upside of 11.69% from the company's current price.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group raised their price objective on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Compass Point raised their price objective on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Keefe, Bruyette & Woods raised their price objective on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Mizuho raised their target price on Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 10th. Finally, Citigroup lifted their price target on Robinhood Markets from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Tuesday. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.06.

Robinhood Markets Stock Up 0.4%

Shares of Robinhood Markets stock traded up $0.46 during trading on Tuesday, reaching $125.35. The company's stock had a trading volume of 7,487,561 shares, compared to its average volume of 42,236,910. The company has a market cap of $111.39 billion, a price-to-earnings ratio of 63.59, a P/E/G ratio of 4.62 and a beta of 2.36. Robinhood Markets has a 1-year low of $22.05 and a 1-year high of $127.78. The company has a 50-day simple moving average of $108.90 and a two-hundred day simple moving average of $76.89.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business's quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. As a group, analysts anticipate that Robinhood Markets will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $99.83, for a total value of $585,502.95. Following the completion of the sale, the chief technology officer directly owned 23,680 shares in the company, valued at $2,363,974.40. This represents a 19.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven M. Quirk sold 60,113 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total value of $6,066,002.83. Following the completion of the transaction, the insider owned 94,454 shares in the company, valued at $9,531,353.14. This represents a 38.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,767,855 shares of company stock valued at $588,837,174. Insiders own 19.95% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HOOD. Whipplewood Advisors LLC lifted its holdings in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after acquiring an additional 508 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company's stock valued at $25,000 after acquiring an additional 148 shares during the last quarter. Hemington Wealth Management lifted its holdings in Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 218 shares during the last quarter. Smithfield Trust Co acquired a new position in Robinhood Markets in the second quarter valued at approximately $29,000. Finally, Wayfinding Financial LLC acquired a new position in Robinhood Markets in the first quarter valued at approximately $30,000. 93.27% of the stock is currently 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.

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