Deutsche Bank Aktiengesellschaft Cuts Robinhood Markets (NASDAQ:HOOD) Price Target to $61.00

Robinhood Markets (NASDAQ:HOOD) had its price target reduced by Deutsche Bank Aktiengesellschaft from $75.00 to $61.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

HOOD has been the topic of several other research reports. Barclays lifted their price target on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. KeyCorp lifted their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Cantor Fitzgerald started coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price target on the stock. Raymond James started coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating on the stock. Finally, Piper Sandler lifted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and a consensus target price of $61.31.

Robinhood Markets Stock Up 7.0 %

Shares of NASDAQ HOOD opened at $38.92 on Wednesday. Robinhood Markets has a 52 week low of $13.98 and a 52 week high of $66.91. The firm’s fifty day moving average is $49.00 and its 200 day moving average is $36.26. The company has a market cap of $34.46 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Equities research analysts anticipate that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the transaction, the chief technology officer now owns 11,752 shares in the company, valued at $445,635.84. The trade was a 33.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $49.02, for a total transaction of $1,225,500.00. Following the completion of the transaction, the insider now owns 822,893 shares in the company, valued at approximately $40,338,214.86. The trade was a 2.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,985,127 shares of company stock worth $142,455,378 in the last quarter. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Robinhood Markets by 184.8% during the 4th quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after acquiring an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC boosted its holdings in shares of Robinhood Markets by 1.1% during the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock valued at $900,159,000 after acquiring an additional 273,860 shares during the last quarter. State Street Corp boosted its holdings in shares of Robinhood Markets by 8.7% during the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after acquiring an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Robinhood Markets by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock valued at $455,464,000 after acquiring an additional 555,299 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Robinhood Markets by 34.4% during the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after acquiring an additional 3,091,514 shares during the last quarter. 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.