Robinhood Markets (NASDAQ:HOOD) Given New $121.00 Price Target at The Goldman Sachs Group

Robinhood Markets (NASDAQ:HOOD) had its price target lifted by analysts at The Goldman Sachs Group from $108.00 to $121.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 22.61% from the company’s current price.

HOOD has been the topic of a number of other reports. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday. Citizens Jmp restated a “market outperform” rating and issued a $155.00 price objective on shares of Robinhood Markets in a research report on Thursday, May 28th. BTIG Research started coverage on shares of Robinhood Markets in a research report on Friday. They issued a “buy” rating and a $125.00 price objective for the company. Truist Financial dropped their price objective on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Finally, JPMorgan Chase & Co. reduced their target price on Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Nineteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.41.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $98.69 on Monday. The firm’s 50 day simple moving average is $85.85 and its 200 day simple moving average is $90.09. Robinhood Markets has a fifty-two week low of $63.51 and a fifty-two week high of $153.86. The company has a market capitalization of $88.87 billion, a price-to-earnings ratio of 47.68, a P/E/G ratio of 2.32 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm posted $0.37 EPS. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities research analysts expect that Robinhood Markets will post 1.81 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $76.89, for a total transaction of $768,900.00. Following the completion of the transaction, the insider owned 432,849 shares in the company, valued at approximately $33,281,759.61. This represents a 2.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka purchased 250,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $80.74 per share, for a total transaction of $20,185,000.00. Following the purchase, the director directly owned 3,924,427 shares in the company, valued at approximately $316,858,235.98. This trade represents a 6.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 680,000 shares of company stock worth $55,306,560 and sold 633,484 shares worth $47,542,923. 19.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC boosted its position in Robinhood Markets by 46.7% during the 1st quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock worth $2,076,000 after acquiring an additional 15,885 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Robinhood Markets in the second quarter valued at approximately $5,105,000. Federated Hermes Inc. lifted its position in shares of Robinhood Markets by 106.2% in the second quarter. Federated Hermes Inc. now owns 63,957 shares of the company’s stock worth $5,988,000 after purchasing an additional 32,933 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Robinhood Markets by 19.1% in the second quarter. NewEdge Advisors LLC now owns 89,676 shares of the company’s stock worth $8,396,000 after purchasing an additional 14,356 shares in the last quarter. Finally, Nebula Research & Development LLC acquired a new position in Robinhood Markets during the second quarter worth $1,316,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.