Robinhood Markets (NASDAQ:HOOD) Shares Up 4.2% After Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price was up 4.2% on Monday after Citizens Jmp raised their price target on the stock from $170.00 to $180.00. Citizens Jmp currently has a market outperform rating on the stock. Robinhood Markets traded as high as $138.99 and last traded at $135.88. Approximately 30,624,068 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 40,368,770 shares. The stock had previously closed at $130.36.

Other research analysts have also issued research reports about the company. Needham & Company LLC increased their target price on Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a report on Wednesday, October 8th. Cantor Fitzgerald upped their target price on Robinhood Markets from $130.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday. Mizuho boosted their target price on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Loop Capital set a $161.00 target price on Robinhood Markets in a research report on Monday, October 27th. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $132.65.

Insider Buying and Selling

In related news, Director Meyer Malka sold 1,093,288 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the transaction, the director owned 3,976,234 shares in the company, valued at $413,011,425.58. This trade represents a 21.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven M. Quirk sold 60,113 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares of the company’s stock, valued at $9,531,353.14. The trade was a 38.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,385,742 shares of company stock valued at $403,923,453 over the last three months. 19.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC grew its stake in shares of Robinhood Markets by 6.4% in the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock valued at $2,092,000 after buying an additional 3,032 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of Robinhood Markets by 184.4% during the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock worth $76,000 after acquiring an additional 1,186 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Robinhood Markets by 3.1% in the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock valued at $677,000 after purchasing an additional 486 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Robinhood Markets by 125.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock valued at $799,000 after purchasing an additional 10,703 shares in the last quarter. Finally, Metavasi Capital LP grew its position in shares of Robinhood Markets by 275.0% during the first quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock worth $3,122,000 after buying an additional 55,000 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Price Performance

The stock has a market capitalization of $120.75 billion, a price-to-earnings ratio of 56.38, a PEG ratio of 3.05 and a beta of 2.42. The firm’s fifty day moving average is $130.11 and its 200-day moving average is $100.33.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 22.13%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm posted $0.17 EPS. The company’s revenue for the quarter was up 100.0% on a year-over-year basis. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.