Compass Point Begins Coverage on Robinhood Markets (NASDAQ:HOOD)

Stock analysts at Compass Point started coverage on shares of Robinhood Markets (NASDAQ:HOOD) in a research report issued on Wednesday,Benzinga reports. The firm set a “buy” rating and a $61.00 price target on the stock. Compass Point’s target price suggests a potential upside of 52.12% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Morgan Stanley lifted their price target on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Mizuho raised their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Barclays boosted 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, February 13th. Finally, Piper Sandler raised their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $40.10 on Wednesday. The stock has a market capitalization of $35.51 billion, a PE ratio of 25.54, a P/E/G ratio of 1.05 and a beta of 2.14. Robinhood Markets has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The company has a fifty day moving average of $48.86 and a two-hundred day moving average of $36.90.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share 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%. Research analysts forecast that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the sale, the insider now directly owns 806,955 shares in the company, valued at approximately $30,268,882.05. The trade was a 27.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the sale, the chief technology officer now owns 17,559 shares in the company, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their ownership of the stock. 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. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently bought and sold shares of the stock. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets in the 4th quarter valued at about $26,000. CoreCap Advisors LLC raised its holdings in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after buying an additional 550 shares during the period. Creative Financial Designs Inc. ADV raised its holdings in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after buying an additional 750 shares during the period. Colonial Trust Co SC acquired a new position in Robinhood Markets in the 4th quarter valued at about $34,000. Finally, Silicon Valley Capital Partners acquired a new position in Robinhood Markets in the 4th quarter valued at about $37,000. 93.27% of the stock is currently owned by hedge funds and other 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.