Robinhood Markets (NASDAQ:HOOD) Given New $77.00 Price Target at JMP Securities

Robinhood Markets (NASDAQ:HOOD) had its price objective boosted by JMP Securities from $60.00 to $77.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

A number of other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $20.00 to $43.00 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods increased their target price on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. KeyCorp lifted their price target on Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Mizuho increased their price objective on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Barclays boosted their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $58.07.

Robinhood Markets Stock Performance

HOOD opened at $63.80 on Thursday. The stock has a market capitalization of $56.40 billion, a PE ratio of 108.14, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. The stock’s 50 day moving average price is $44.98 and its 200-day moving average price is $32.13. Robinhood Markets has a 52-week low of $12.77 and a 52-week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Research analysts forecast that Robinhood Markets will post 0.97 EPS for the current fiscal year.

Insider Activity

In other news, Director Baiju Bhatt sold 90,866 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at $279,024.28. This represents a 94.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,948,427 shares of company stock worth $165,005,244 over the last 90 days. 19.95% of the stock is currently owned by insiders.

Institutional Trading of Robinhood Markets

A number of institutional investors have recently made changes to their positions in HOOD. Alpha DNA Investment Management LLC purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $774,000. Strategic Investment Solutions Inc. IL grew its position in Robinhood Markets by 170,425.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 6,821 shares of the company’s stock worth $254,000 after purchasing an additional 6,817 shares during the period. Farringdon Capital Ltd. purchased a new stake in Robinhood Markets during the 4th quarter valued at $219,000. Jump Financial LLC lifted its holdings in shares of Robinhood Markets by 76.5% during the 4th quarter. Jump Financial LLC now owns 537,723 shares of the company’s stock valued at $20,036,000 after buying an additional 233,122 shares during the period. Finally, Anchor Investment Management LLC purchased a new position in shares of Robinhood Markets in the 4th quarter worth $48,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.