Robinhood Markets (NASDAQ:HOOD) Stock Price Up 2.3% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD) rose 2.3% on Monday . The company traded as high as $66.08 and last traded at $65.28. Approximately 39,248,779 shares changed hands during trading, an increase of 97% from the average daily volume of 19,924,428 shares. The stock had previously closed at $63.80.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. JMP Securities raised their price target on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday. Sanford C. Bernstein lifted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft increased 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. Barclays boosted their price objective on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Citigroup upped their target price on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $58.07.

Robinhood Markets Trading Up 2.3 %

The firm has a 50-day moving average of $45.45 and a two-hundred day moving average of $32.60. The firm has a market capitalization of $57.71 billion, a P/E ratio of 110.65, a P/E/G ratio of 0.73 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.97 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $37.92, for a total transaction of $222,817.92. Following the completion of the transaction, the chief technology officer now directly owns 11,752 shares in the company, valued at $445,635.84. This trade represents a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,948,427 shares of company stock worth $165,005,244. Insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HOOD. Creative Planning raised its stake in Robinhood Markets by 34.6% during the third quarter. Creative Planning now owns 35,384 shares of the company’s stock worth $829,000 after buying an additional 9,094 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Robinhood Markets by 32.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 28,125 shares of the company’s stock worth $659,000 after purchasing an additional 6,872 shares in the last quarter. Blue Trust Inc. increased its position in Robinhood Markets by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 22,938 shares of the company’s stock valued at $521,000 after buying an additional 14,849 shares in the last quarter. Raymond James & Associates raised its stake in Robinhood Markets by 76.6% during the 3rd quarter. Raymond James & Associates now owns 99,278 shares of the company’s stock worth $2,325,000 after buying an additional 43,075 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after acquiring an additional 3,817,355 shares in the last quarter. Institutional investors and hedge funds 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.