Brokerages Set Robinhood Markets, Inc. (NASDAQ:HOOD) Target Price at $120.52

Robinhood Markets, Inc. (NASDAQ:HOOD) has earned an average recommendation of “Moderate Buy” from the twenty-six research firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $120.5217.

A number of equities analysts have recently weighed in on the company. BTIG Research restated a “buy” rating and issued a $125.00 target price on shares of Robinhood Markets in a research note on Thursday, July 30th. The Goldman Sachs Group decreased their price target on Robinhood Markets from $137.00 to $118.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Morgan Stanley lifted their price target on Robinhood Markets from $95.00 to $124.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday, June 24th. Finally, KeyCorp upped their price objective on Robinhood Markets from $100.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd.

Insider Activity at Robinhood Markets

In related news, Director Paula Loop sold 8,336 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $120.00, for a total value of $1,000,320.00. Following the transaction, the director directly owned 63,674 shares of the company’s stock, valued at approximately $7,640,880. The trade was a 11.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 3,982 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $95.07, for a total transaction of $378,568.74. Following the transaction, the chief financial officer owned 51,963 shares of the company’s stock, valued at approximately $4,940,122.41. The trade was a 7.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 612,704 shares of company stock worth $66,675,612. 13.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System boosted its holdings in shares of Robinhood Markets by 9,976.4% in the second quarter. California State Teachers Retirement System now owns 113,132,988 shares of the company’s stock worth $11,344,976,000 after acquiring an additional 112,010,233 shares during the period. State Street Corp grew its holdings in Robinhood Markets by 103.2% during the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company’s stock valued at $4,617,004,000 after buying an additional 16,375,734 shares in the last quarter. Norges Bank bought a new stake in shares of Robinhood Markets during the fourth quarter valued at about $1,202,160,000. Bank of New York Mellon Corp bought a new stake in shares of Robinhood Markets during the second quarter valued at about $379,695,000. Finally, Amundi lifted its holdings in shares of Robinhood Markets by 89.0% in the first quarter. Amundi now owns 6,385,232 shares of the company’s stock worth $442,497,000 after buying an additional 3,007,103 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Up 0.5%

Shares of Robinhood Markets stock opened at $104.81 on Friday. The company has a market capitalization of $94.23 billion, a P/E ratio of 46.17, a price-to-earnings-growth ratio of 1.90 and a beta of 2.35. The stock has a fifty day simple moving average of $101.44 and a 200 day simple moving average of $87.24. Robinhood Markets has a 12-month low of $63.51 and a 12-month high of $153.86. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.18. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the business earned $0.42 EPS. The business’s revenue was up 32.5% on a year-over-year basis. On average, sell-side analysts anticipate that Robinhood Markets will post 2.04 earnings per share for the current fiscal year.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.