Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $75.00 at KeyCorp

Robinhood Markets (NASDAQ:HOOD) had its price target raised by KeyCorp from $57.00 to $75.00 in a research report report published on Thursday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other analysts have also issued reports about the stock. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Barclays increased their price target on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday. Morgan Stanley raised their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Needham & Company LLC raised their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $58.07.

Robinhood Markets Price Performance

Shares of HOOD opened at $65.28 on Thursday. Robinhood Markets has a one year low of $13.04 and a one year high of $66.91. The company has a 50-day moving average of $45.45 and a two-hundred day moving average of $32.52. The stock has a market cap of $57.71 billion, a price-to-earnings ratio of 110.65, a PEG ratio of 0.73 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate that Robinhood Markets will post 0.97 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the sale, the chief technology officer now owns 11,752 shares in the company, valued at approximately $445,635.84. This trade represents a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 186,514 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the completion of the sale, the director now owns 2,521 shares in the company, valued at approximately $96,125.73. The trade was a 98.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,948,427 shares of company stock worth $165,005,244. Insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently bought and sold shares of the business. Metavasi Capital LP acquired a new stake in Robinhood Markets during the fourth quarter worth $745,000. Mercer Global Advisors Inc. ADV boosted its stake in Robinhood Markets by 224.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 103,583 shares of the company’s stock worth $3,860,000 after buying an additional 71,652 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in Robinhood Markets by 1,907.2% during the fourth quarter. Itau Unibanco Holding S.A. now owns 47,972 shares of the company’s stock worth $1,835,000 after buying an additional 45,582 shares in the last quarter. Comerica Bank boosted its stake in Robinhood Markets by 167.3% during the fourth quarter. Comerica Bank now owns 11,894 shares of the company’s stock worth $443,000 after buying an additional 7,444 shares in the last quarter. Finally, Regal Partners Ltd acquired a new stake in Robinhood Markets during the fourth quarter worth $932,000. Institutional investors and hedge funds 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.