Robinhood Markets (NASDAQ:HOOD) Trading 1.4% Higher – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD) rose 1.4% during trading on Wednesday . The stock traded as high as $53.66 and last traded at $53.33. Approximately 5,925,689 shares were traded during trading, a decline of 71% from the average daily volume of 20,180,734 shares. The stock had previously closed at $52.58.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HOOD. Sanford C. Bernstein increased their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $20.00 to $43.00 in a research note on Tuesday, January 7th. Morgan Stanley raised their price objective on Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Keefe, Bruyette & Woods upped their price target on Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, Raymond James began coverage on shares of Robinhood Markets in a report on Wednesday. They set a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.73.

Robinhood Markets Price Performance

The stock’s 50-day moving average price is $42.49 and its 200 day moving average price is $30.59. The firm has a market capitalization of $47.84 billion, a PE ratio of 91.73, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Meyer Malka sold 105,875 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $3,176,250.00. Following the transaction, the director now owns 28,930,243 shares in the company, valued at $867,907,290. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,938,436 shares of company stock worth $161,862,969 over the last three months. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors have recently bought and sold shares of HOOD. First Horizon Advisors Inc. raised its position in shares of Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after acquiring an additional 277 shares in the last quarter. HM Payson & Co. grew its position in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares during the last quarter. Commerce Bank lifted its position in Robinhood Markets by 3.3% in the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after acquiring an additional 423 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Robinhood Markets by 16.5% during the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after purchasing an additional 487 shares during the last quarter. Finally, Spire Wealth Management increased its position in Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after buying an additional 549 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

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.