Equities research analysts at Raymond James began coverage on shares of Robinhood Markets (NASDAQ:HOOD - Get Free Report) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a "market perform" rating on the stock.
Several other equities research analysts have also recently weighed in on the company. Morgan Stanley increased their price objective on Robinhood Markets from $55.00 to $64.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Sanford C. Bernstein increased their price objective on Robinhood Markets from $30.00 to $51.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Keefe, Bruyette & Woods increased their price objective on Robinhood Markets from $24.00 to $38.00 and gave the stock a "market perform" rating in a report on Friday, December 20th. The Goldman Sachs Group upgraded 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. Finally, JMP Securities raised their target price on Robinhood Markets from $33.00 to $40.00 and gave the company a "market outperform" rating in a research note on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and twelve have assigned 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 $43.73.
Get Our Latest Report on Robinhood Markets
NASDAQ HOOD opened at $52.58 on Wednesday. Robinhood Markets has a fifty-two week low of $10.51 and a fifty-two week high of $53.51. The stock has a 50 day simple moving average of $42.49 and a two-hundred day simple moving average of $30.59. The stock has a market cap of $46.48 billion, a P/E ratio of 89.12, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13.
In other Robinhood Markets news, insider Steven M. Quirk sold 19,861 shares of Robinhood Markets stock in a transaction on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the sale, the insider now owns 395,166 shares of the company's stock, valued at approximately $14,834,531.64. This trade represents a 4.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total value of $477,750.00. Following the completion of the sale, the insider now directly owns 1,106,955 shares of the company's stock, valued at approximately $42,307,820.10. The trade was a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,938,436 shares of company stock valued at $161,862,969 in the last 90 days. Corporate insiders own 19.95% of the company's stock.
Large investors have recently modified their holdings of the company. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the fourth quarter worth $26,000. HM Payson & Co. lifted its position in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company's stock valued at $28,000 after purchasing an additional 410 shares in the last quarter. Eastern Bank purchased a new position in Robinhood Markets during the third quarter valued at $30,000. True Wealth Design LLC purchased a new position in Robinhood Markets during the third quarter valued at $30,000. Finally, ORG Wealth Partners LLC purchased a new position in Robinhood Markets during the third quarter valued at $33,000. Institutional investors own 93.27% of the company's stock.
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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