Robinhood Markets (NASDAQ:HOOD) Stock Price Up 3.2% on Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD) was up 3.2% on Monday after The Goldman Sachs Group raised their price target on the stock from $108.00 to $121.00. The Goldman Sachs Group currently has a buy rating on the stock. Robinhood Markets traded as high as $102.85 and last traded at $101.83. 20,607,761 shares changed hands during trading, a decline of 32% from the average session volume of 30,526,232 shares. The stock had previously closed at $98.69.

Other equities analysts also recently issued reports about the company. Truist Financial dropped their target price on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 price target on shares of Robinhood Markets in a research note on Tuesday, June 9th. JPMorgan Chase & Co. reduced their price objective on shares of Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Barclays reduced their target price on Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Finally, Jefferies Financial Group reduced their price objective on Robinhood Markets from $88.00 to $84.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Nineteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.41.

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 67,422 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total value of $5,082,270.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 10,837 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $85.91, for a total transaction of $931,006.67. Following the sale, the insider owned 81,989 shares of the company’s stock, valued at approximately $7,043,674.99. The trade was a 11.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders bought 680,000 shares of company stock worth $55,306,560 and sold 633,484 shares worth $47,542,923. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently bought and sold shares of HOOD. CYBER HORNET ETFs LLC lifted its position in shares of Robinhood Markets by 527.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares in the last quarter. MV Capital Management Inc. purchased a new stake in Robinhood Markets in the fourth quarter valued at approximately $27,000. Swiss RE Ltd. purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at $27,000. Elyxium Wealth LLC purchased a new position in shares of Robinhood Markets in the 4th quarter worth $27,000. Finally, Sound Income Strategies LLC raised its position in shares of Robinhood Markets by 152.6% in the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock worth $26,000 after buying an additional 145 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Up 3.2%

The stock has a fifty day moving average of $85.85 and a two-hundred day moving average of $90.09. The stock has a market cap of $91.70 billion, a price-to-earnings ratio of 49.19, a PEG ratio of 2.32 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly 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 for the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.81 EPS for the current fiscal year.

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.