Robinhood Markets (NASDAQ:HOOD) Now Covered by Analysts at Truist Financial

Equities researchers at Truist Financial began coverage on shares of Robinhood Markets (NASDAQ:HOOD) in a research note issued to investors on Wednesday,Benzinga reports. The firm set a “buy” rating and a $155.00 price target on the stock. Truist Financial’s price target would indicate a potential upside of 29.82% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Morgan Stanley upped their price target on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a report on Monday, December 8th. Keefe, Bruyette & Woods raised their target price on Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a research report on Thursday, November 6th. The Goldman Sachs Group boosted their price target on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Finally, JMP Securities increased their price objective on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.25.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $119.40 on Wednesday. Robinhood Markets has a 1-year low of $29.66 and a 1-year high of $153.86. The company has a market cap of $107.36 billion, a price-to-earnings ratio of 49.54, a PEG ratio of 2.32 and a beta of 2.43. The stock has a 50 day simple moving average of $130.95 and a 200-day simple moving average of $113.12.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.41 by $0.20. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The firm’s revenue was up 100.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. Analysts anticipate that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 1,330,000 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $128.47, for a total transaction of $170,865,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Steven M. Quirk sold 49,942 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $131.15, for a total value of $6,549,893.30. Following the completion of the sale, the insider directly owned 54,496 shares of the company’s stock, valued at $7,147,150.40. This trade represents a 47.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 3,686,763 shares of company stock worth $475,858,262. 19.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC boosted its stake in Robinhood Markets by 6.4% during the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock worth $2,092,000 after buying an additional 3,032 shares during the period. Wellington Management Group LLP raised its stake in shares of Robinhood Markets by 3.1% in the 1st quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock valued at $677,000 after acquiring an additional 486 shares during the period. Metavasi Capital LP lifted its holdings in shares of Robinhood Markets by 275.0% in the 1st quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock worth $3,122,000 after acquiring an additional 55,000 shares during the last quarter. Venture Visionary Partners LLC boosted its position in shares of Robinhood Markets by 63.0% during the 2nd quarter. Venture Visionary Partners LLC now owns 125,420 shares of the company’s stock worth $11,743,000 after purchasing an additional 48,494 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of Robinhood Markets by 114.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 369,900 shares of the company’s stock worth $15,395,000 after purchasing an additional 197,673 shares during the period. 93.27% of the stock is 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.