Robinhood Markets (NASDAQ:HOOD) Shares Up 2.6% After Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD) shares were up 2.6% on Friday 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 $132.20 and last traded at $130.36. Approximately 44,123,587 shares traded hands during trading, an increase of 9% from the average daily volume of 40,411,430 shares. The stock had previously closed at $127.08.

A number of other research firms have also commented on HOOD. Keefe, Bruyette & Woods lifted their target price on Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a report on Thursday. The Goldman Sachs Group increased their price objective on Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Citigroup lifted their price objective on Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Zacks Research lowered Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Robinhood Markets in a report on Wednesday, October 8th. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $132.65.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $148.34, for a total value of $3,708,500.00. Following the sale, the insider owned 565,949 shares in the company, valued at $83,952,874.66. The trade was a 4.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The SEC filing for this sale provides additional information. Insiders have sold 3,385,742 shares of company stock worth $403,923,453 in the last 90 days. Company insiders own 14.47% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently made changes to their positions in the company. NewEdge Wealth LLC boosted its stake in Robinhood Markets by 166.1% during the third quarter. NewEdge Wealth LLC now owns 10,395 shares of the company’s stock valued at $1,481,000 after buying an additional 6,488 shares during the last quarter. Essex Financial Services Inc. raised its holdings in shares of Robinhood Markets by 13.3% during the 3rd quarter. Essex Financial Services Inc. now owns 3,856 shares of the company’s stock worth $552,000 after acquiring an additional 454 shares in the last quarter. Hodges Capital Management Inc. bought a new position in shares of Robinhood Markets during the 3rd quarter valued at approximately $427,000. NEOS Investment Management LLC bought a new position in shares of Robinhood Markets during the 3rd quarter valued at approximately $11,994,000. Finally, Wealthcare Advisory Partners LLC grew its holdings in shares of Robinhood Markets by 7.8% in the third quarter. Wealthcare Advisory Partners LLC now owns 8,485 shares of the company’s stock valued at $1,215,000 after purchasing an additional 614 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Price Performance

The company has a market cap of $115.85 billion, a P/E ratio of 54.09, a PEG ratio of 3.70 and a beta of 2.42. The firm’s 50-day moving average is $129.58 and its two-hundred day moving average is $98.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 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 business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the company posted $0.17 EPS. The business’s revenue was up 100.0% on a year-over-year basis. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.