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

Robinhood Markets (NASDAQ:HOOD) had its price objective hoisted by equities research analysts at The Goldman Sachs Group from $108.00 to $121.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 22.61% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. BTIG Research began coverage on shares of Robinhood Markets in a research report on Friday. They issued a “buy” rating and a $125.00 price target on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Robinhood Markets in a report on Thursday, May 28th. Loop Capital set a $110.00 target price on shares of Robinhood Markets in a research note on Wednesday, June 17th. Truist Financial reduced their target price on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Finally, Zacks Research upgraded Robinhood Markets from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Nineteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.41.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $98.69 on Monday. The firm has a market capitalization of $88.87 billion, a P/E ratio of 47.68, a P/E/G ratio of 2.32 and a beta of 2.35. The stock has a fifty day moving average price of $85.85 and a two-hundred day moving average price of $90.09. Robinhood Markets has a 52-week low of $63.51 and a 52-week high of $153.86.

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

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 67,422 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total value of $5,082,270.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Tenev sold 375,000 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $69.83, for a total value of $26,186,250.00. Following the transaction, the chief executive officer directly owned 375,000 shares in the company, valued at approximately $26,186,250. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders acquired 680,000 shares of company stock valued at $55,306,560 and sold 633,484 shares valued at $47,542,923. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sound Income Strategies LLC grew its holdings in Robinhood Markets by 152.6% during the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock worth $26,000 after acquiring an additional 145 shares during the period. CYBER HORNET ETFs LLC lifted its stake in shares of Robinhood Markets by 527.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after purchasing an additional 190 shares during the period. Elyxium Wealth LLC bought a new position in shares of Robinhood Markets in the 4th quarter worth $27,000. MV Capital Management Inc. bought a new position in shares of Robinhood Markets in the 4th quarter worth $27,000. Finally, Swiss RE Ltd. acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $27,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Company Profile

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.