Robinhood Markets (NASDAQ:HOOD) Rating Increased to Strong-Buy at Truist Financial

Truist Financial upgraded shares of Robinhood Markets (NASDAQ:HOOD) to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. Compass Point restated a “buy” rating on shares of Robinhood Markets in a research note on Monday, October 27th. Dbs Bank upgraded shares of Robinhood Markets to a “moderate buy” rating in a report on Wednesday, November 12th. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a research note on Monday, December 8th. CICC Research started coverage on shares of Robinhood Markets in a research note on Monday, October 27th. They issued an “outperform” rating and a $155.00 price target on the stock. Finally, Mizuho increased their price target on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.25.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $115.80 on Tuesday. Robinhood Markets has a 52-week low of $29.66 and a 52-week high of $153.86. The company has a market capitalization of $104.13 billion, a P/E ratio of 48.05, a price-to-earnings-growth ratio of 2.40 and a beta of 2.43. The company has a 50-day simple moving average of $130.25 and a 200 day simple moving average of $113.14.

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

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 1,330,000 shares of Robinhood Markets stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $128.47, for a total value of $170,865,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $132.13, for a total transaction of $15,855,600.00. Following the completion of the sale, the insider directly owned 430,012 shares of the company’s stock, valued at $56,817,485.56. This represents a 21.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,686,763 shares of company stock valued at $475,858,262 in the last three months. 14.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC lifted its position in shares of Robinhood Markets by 6.4% during the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock valued at $2,092,000 after acquiring an additional 3,032 shares during the period. Dimensional Fund Advisors LP raised its stake in Robinhood Markets by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,315,500 shares of the company’s stock valued at $138,005,000 after purchasing an additional 21,574 shares in the last quarter. Aberdeen Group plc acquired a new position in Robinhood Markets in the first quarter valued at about $765,000. American Century Companies Inc. lifted its position in Robinhood Markets by 18.8% during the first quarter. American Century Companies Inc. now owns 108,053 shares of the company’s stock worth $4,497,000 after purchasing an additional 17,131 shares during the period. Finally, Northern Trust Corp grew its stake in Robinhood Markets by 4.2% during the first quarter. Northern Trust Corp now owns 4,061,398 shares of the company’s stock worth $169,035,000 after buying an additional 163,823 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

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.