Robinhood Markets (NASDAQ:HOOD) Given New $120.00 Price Target at Barclays

Robinhood Markets (NASDAQ:HOOD) had its target price boosted by Barclays from $102.00 to $120.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. upped their price target 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. Mizuho set a $120.00 price target on shares of Robinhood Markets in a research note on Thursday. The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Redburn Atlantic restated a “sell” rating and set a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Finally, Needham & Company LLC upped their price target on shares of Robinhood Markets from $71.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday. One 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.29.

Robinhood Markets Stock Down 2.9%

Robinhood Markets stock opened at $103.05 on Thursday. Robinhood Markets has a twelve month low of $13.98 and a twelve month high of $113.44. The firm has a 50 day moving average price of $86.18 and a 200-day moving average price of $61.49. The company has a market capitalization of $91.25 billion, a P/E ratio of 52.31, a P/E/G ratio of 5.40 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.69%. The firm had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same period in the prior year, the firm earned $0.21 EPS. The company’s revenue was up 45.0% compared to the same quarter last year. Equities analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Activity

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 transaction of $7,838,154.72. Following the sale, the insider owned 136,364 shares in the company, valued at approximately $11,585,485.44. This trade represents a 40.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 385,485 shares of the firm’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $101.90, for a total transaction of $39,280,921.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,026,690 shares of company stock worth $257,160,102. Corporate insiders own 14.47% of the company’s stock.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently made changes to their positions in the stock. TD Private Client Wealth LLC raised its position in shares of Robinhood Markets by 184.4% during the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock valued at $76,000 after buying an additional 1,186 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of Robinhood Markets during the 1st quarter valued at $277,000. Burns Matteson Capital Management LLC bought a new position in shares of Robinhood Markets during the 1st quarter valued at $495,000. Fiduciary Alliance LLC bought a new position in shares of Robinhood Markets during the 1st quarter valued at $2,177,000. Finally, Invesco Ltd. grew its holdings in shares of Robinhood Markets by 132.6% during the 4th quarter. Invesco Ltd. now owns 2,867,595 shares of the company’s stock valued at $106,847,000 after purchasing an additional 1,634,599 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.