Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price traded up 2% during mid-day trading on Friday after Bank of America raised their price target on the stock from $139.00 to $157.00. Bank of America currently has a buy rating on the stock. Robinhood Markets traded as high as $150.21 and last traded at $148.67. 34,389,100 shares were traded during mid-day trading, a decline of 18% from the average session volume of 42,170,789 shares. The stock had previously closed at $145.70.
Other equities research analysts also recently issued research reports about the company. Piper Sandler reaffirmed an "overweight" rating and issued a $140.00 target price (up previously from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Cantor Fitzgerald increased their price target on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. KeyCorp increased 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. Needham & Company LLC increased their price target on Robinhood Markets from $120.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods increased their price target on Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $113.59.
Read Our Latest Report on HOOD
Insider Buying and Selling at Robinhood Markets
In other news, insider Steven M. Quirk sold 60,113 shares of Robinhood Markets 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 in the company, valued at approximately $9,531,353.14. This trade represents a 38.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total value of $49,957,923.96. The disclosure for this sale can be found here. In the last three months, insiders sold 4,906,462 shares of company stock worth $509,427,417. Corporate insiders own 14.47% of the company's stock.
Institutional Trading of Robinhood Markets
Several hedge funds and other institutional investors have recently modified their holdings of the business. WCM Investment Management LLC raised its holdings in shares of Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company's stock worth $1,081,910,000 after acquiring an additional 11,244,182 shares in the last quarter. Norges Bank purchased a new stake in shares of Robinhood Markets during the second quarter worth $973,122,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Robinhood Markets during the second quarter worth $951,479,000. Vanguard Group Inc. raised its holdings in shares of Robinhood Markets by 8.6% during the first 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. raised its holdings in shares of Robinhood Markets by 286.0% during the first 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 in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.
Robinhood Markets Price Performance
The company has a fifty day simple moving average of $113.58 and a two-hundred day simple moving average of $81.58. The company has a market capitalization of $132.12 billion, a P/E ratio of 75.47, a price-to-earnings-growth ratio of 4.87 and a beta of 2.42.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. During the same period last year, the company earned $0.21 earnings per share. The business's revenue was up 45.0% compared to the same quarter last year. Equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.
About Robinhood Markets
(
Get Free Report)
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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