Robinhood Markets (NASDAQ:HOOD) Coverage Initiated by Analysts at Compass Point

Compass Point started coverage on shares of Robinhood Markets (NASDAQ:HOOD) in a report released on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $61.00 target price on the stock.

HOOD has been the subject of a number of other reports. Needham & Company LLC increased their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 13th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and raised their target price for the company from $40.00 to $46.00 in a research note on Friday, December 6th. JMP Securities boosted their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods increased their price objective on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $61.29.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $42.80 on Wednesday. Robinhood Markets has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The company has a market capitalization of $37.90 billion, a P/E ratio of 27.26, a P/E/G ratio of 1.05 and a beta of 2.14. The company has a fifty day moving average of $48.90 and a 200 day moving average of $36.94.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Analysts forecast that Robinhood Markets will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the transaction, the insider now owns 806,955 shares of the company’s stock, valued at approximately $30,268,882.05. This represents a 27.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steven M. Quirk sold 123,272 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.80, for a total value of $6,878,577.60. Following the sale, the insider now directly owns 298,826 shares of the company’s stock, valued at $16,674,490.80. This represents a 29.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,985,127 shares of company stock worth $142,455,378 over the last quarter. Insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its position in Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after buying an additional 26,107,934 shares during the period. Norges Bank bought a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $329,598,000. GQG Partners LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership bought a new position in Robinhood Markets in the fourth quarter worth approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Robinhood Markets by 335.6% during the 4th 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 during the period. 93.27% of the stock is currently 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.