Robinhood Markets (NASDAQ:HOOD) Shares Up 2.8% After Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD) shares shot up 2.8% on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $24.00 to $38.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Robinhood Markets traded as high as $38.03 and last traded at $37.97. 9,118,401 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 17,012,533 shares. The stock had previously closed at $36.94.

HOOD has been the subject of several other reports. Deutsche Bank Aktiengesellschaft lifted their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Citigroup boosted their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, September 27th. JMP Securities raised their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target (up from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Finally, Sanford C. Bernstein raised their price objective on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.20.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total value of $279,625.00. Following the completion of the sale, the insider now owns 1,057,500 shares of the company’s stock, valued at approximately $23,656,275. This represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Meyer Malka sold 1,535,681 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the completion of the transaction, the director now directly owns 4,974,238 shares in the company, valued at approximately $199,516,686.18. This represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,037,689 shares of company stock worth $177,092,487. 19.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HOOD. HM Payson & Co. grew its stake in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares during the period. Commerce Bank grew its position in shares of Robinhood Markets by 3.3% during the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after buying an additional 423 shares during the period. Signaturefd LLC increased its stake in shares of Robinhood Markets by 16.5% in the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after acquiring an additional 487 shares in the last quarter. Castleview Partners LLC increased its stake in shares of Robinhood Markets by 18.2% in the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock valued at $89,000 after acquiring an additional 582 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its position in shares of Robinhood Markets by 3.1% during the 3rd quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock valued at $463,000 after acquiring an additional 598 shares during the period. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Up 2.8 %

The firm has a market capitalization of $33.56 billion, a P/E ratio of 64.36, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09. The company’s 50 day moving average is $32.87 and its 200-day moving average is $25.50.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The business’s quarterly revenue was up 36.4% on a year-over-year basis. On average, analysts predict that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal 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.