The Goldman Sachs Group Raises Robinhood Markets (NASDAQ:HOOD) Price Target to $104.00

Robinhood Markets (NASDAQ:HOOD - Free Report) had its price objective increased by The Goldman Sachs Group from $91.00 to $104.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently commented on HOOD. Needham & Company LLC reaffirmed a "buy" rating and set a $71.00 target price on shares of Robinhood Markets in a report on Tuesday, May 27th. Compass Point lifted their target price on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 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. Mizuho boosted their price target on Robinhood Markets from $80.00 to $99.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Finally, KeyCorp boosted their price target on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $72.71.

Robinhood Markets Stock Down 1.0%

Shares of Robinhood Markets stock traded down $0.90 on Monday, reaching $92.56. 45,551,798 shares of the stock were exchanged, compared to its average volume of 29,680,688. Robinhood Markets has a twelve month low of $13.98 and a twelve month high of $100.88. The firm has a market capitalization of $81.96 billion, a price-to-earnings ratio of 52.59, a PEG ratio of 4.80 and a beta of 2.36. The business has a 50 day moving average price of $69.70 and a two-hundred day moving average price of $53.95.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The firm had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same period last year, the firm earned $0.18 EPS. The company's revenue for the quarter was up 50.0% compared to the same quarter last year. Research analysts forecast that Robinhood Markets will post 1.35 EPS for the current year.

Insider Transactions at Robinhood Markets

In other news, insider Steven M. Quirk sold 104,887 shares of the company's stock in a transaction that occurred 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 $16,035,476.94. This represents a 31.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total value of $26,966,067.48. Following the sale, the director owned 7,863 shares of the company's stock, valued at $506,848.98. The trade was a 98.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,441,838 shares of company stock valued at $176,501,489 in the last three months. 19.95% of the stock is currently owned by company insiders.

Institutional Trading of Robinhood Markets

Large investors have recently made changes to their positions in the company. Wealthcare Advisory Partners LLC purchased a new stake in shares of Robinhood Markets during the first quarter worth approximately $277,000. Fiduciary Alliance LLC purchased a new stake in shares of Robinhood Markets during the first quarter worth approximately $2,177,000. Invesco Ltd. increased its position in shares of Robinhood Markets by 132.6% during the fourth quarter. Invesco Ltd. now owns 2,867,595 shares of the company's stock worth $106,847,000 after purchasing an additional 1,634,599 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Robinhood Markets by 335.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock worth $193,202,000 after purchasing an additional 3,994,745 shares in the last quarter. Finally, Syquant Capital Sas purchased a new stake in shares of Robinhood Markets during the first quarter worth approximately $445,000. 93.27% of the stock is currently owned by hedge funds and other 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.