Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $100.00 at Cantor Fitzgerald

Robinhood Markets (NASDAQ:HOOD - Free Report) had its price target raised by Cantor Fitzgerald from $89.00 to $100.00 in a report issued on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on HOOD. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. KeyCorp lifted their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Redburn Atlantic restated a "sell" rating and set a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $70.00 target price on shares of Robinhood Markets in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $69.00.

Robinhood Markets Stock Down 3.9%

Shares of Robinhood Markets stock traded down $3.85 during trading on Tuesday, hitting $94.13. 56,348,824 shares of the company were exchanged, compared to its average volume of 41,076,871. Robinhood Markets has a fifty-two week low of $13.98 and a fifty-two week high of $100.88. The firm has a 50 day moving average price of $67.00 and a 200 day moving average price of $52.62. The stock has a market capitalization of $83.35 billion, a price-to-earnings ratio of 53.48, a P/E/G ratio of 4.70 and a beta of 2.36.

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

Insider Buying and Selling at Robinhood Markets

In other news, insider Steven M. Quirk sold 92,257 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total value of $7,838,154.72. Following the transaction, the insider owned 136,364 shares of the company's stock, valued at approximately $11,585,485.44. This trade represents a 40.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $74.29, for a total transaction of $31,078,330.02. Following the transaction, the director owned 7,863 shares in the company, valued at $584,142.27. The trade was a 98.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,447,691 shares of company stock worth $176,703,476. Company insiders own 14.47% of the company's stock.

Institutional Trading of Robinhood Markets

Large investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in shares of Robinhood Markets by 184.8% during the fourth 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 in the last quarter. Norges Bank purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at about $329,598,000. GQG Partners LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at about $302,325,000. Vanguard Group Inc. lifted its position in Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares in the last quarter. Finally, AGF Management Ltd. boosted its holdings in Robinhood Markets by 286.0% in the 1st 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 period. 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.