The Goldman Sachs Group Increases Robinhood Markets (NASDAQ:HOOD) Price Target to $82.00

Robinhood Markets (NASDAQ:HOOD - Free Report) had its target price boosted by The Goldman Sachs Group from $81.00 to $82.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

HOOD has been the topic of several other research reports. Needham & Company LLC reissued a "buy" rating and issued a $71.00 price target on shares of Robinhood Markets in a research report on Tuesday, May 27th. JMP Securities reaffirmed a "market outperform" rating and set a $70.00 target price on shares of Robinhood Markets in a report on Thursday, May 1st. Morgan Stanley increased their price target on shares of Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. 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 note on Thursday, May 1st. Finally, Barclays cut their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus target price of $57.17.

Robinhood Markets Stock Performance

NASDAQ HOOD traded down $1.19 on Thursday, hitting $72.65. 5,561,567 shares of the stock traded hands, compared to its average volume of 27,194,553. The business's fifty day moving average is $55.45 and its two-hundred day moving average is $48.40. Robinhood Markets has a 12 month low of $13.98 and a 12 month high of $77.80. The firm has a market capitalization of $64.33 billion, a price-to-earnings ratio of 46.35, a PEG ratio of 1.05 and a beta of 2.25.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted 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 13.53% and a net margin of 47.81%. The firm had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same quarter in the previous year, the company posted $0.18 EPS. The firm's revenue was up 50.0% compared to the same quarter last year. Analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,865 shares of Robinhood Markets stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $73.49, for a total transaction of $431,018.85. Following the sale, the chief technology officer now directly owns 20,636 shares in the company, valued at $1,516,539.64. The trade was a 22.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,232,636 shares of company stock worth $111,898,793 in the last three months. 14.47% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

Several large investors have recently bought and sold shares of HOOD. Cim LLC grew its stake in Robinhood Markets by 49.8% in the first quarter. Cim LLC now owns 81,911 shares of the company's stock worth $3,409,000 after purchasing an additional 27,230 shares during the period. Silicon Valley Capital Partners boosted its holdings in shares of Robinhood Markets by 50.0% during the 1st quarter. Silicon Valley Capital Partners now owns 1,500 shares of the company's stock valued at $63,000 after buying an additional 500 shares in the last quarter. Strs Ohio purchased a new stake in shares of Robinhood Markets in the 1st quarter worth about $11,216,000. Acadian Asset Management LLC grew its position in shares of Robinhood Markets by 293.6% in the 1st quarter. Acadian Asset Management LLC now owns 144,791 shares of the company's stock worth $6,018,000 after buying an additional 108,001 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in shares of Robinhood Markets by 43.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 7,860 shares of the company's stock worth $327,000 after acquiring an additional 2,398 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

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.