Robinhood Markets (NASDAQ:HOOD) Now Covered by Analysts at Cantor Fitzgerald

Investment analysts at Cantor Fitzgerald started coverage on shares of Robinhood Markets (NASDAQ:HOOD) in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $69.00 price target on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 43.39% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Raymond James started coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating for the company. Needham & Company LLC upped their target price on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Sanford C. Bernstein raised their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.13.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $48.12 on Thursday. The stock has a market capitalization of $42.61 billion, a P/E ratio of 30.65, a P/E/G ratio of 1.05 and a beta of 2.13. Robinhood Markets has a 12-month low of $13.98 and a 12-month high of $66.91. The firm’s 50-day moving average is $48.84 and its two-hundred day moving average is $35.57.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, analysts forecast that Robinhood Markets will post 1.35 EPS for the current year.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of Robinhood Markets 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 transaction, the insider now directly owns 806,955 shares in the company, valued at approximately $30,268,882.05. This trade represents a 27.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,165,788 shares of company stock worth $149,293,178 in the last three months. 19.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Siemens Fonds Invest GmbH purchased a new stake in shares of Robinhood Markets during the 4th quarter worth about $217,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $4,886,000. Employees Retirement System of Texas bought a new stake in Robinhood Markets in the fourth quarter worth approximately $1,609,000. Windmill Hill Asset Management Ltd acquired a new position in shares of Robinhood Markets during the 4th quarter worth $493,000. Finally, Ameriflex Group Inc. bought a new stake in Robinhood Markets in the fourth quarter worth $48,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.