Robinhood Markets (NASDAQ:HOOD) Trading Up 6.6% on Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD) shot up 6.6% on Friday after Morgan Stanley raised their price target on the stock from $55.00 to $64.00. Morgan Stanley currently has an overweight rating on the stock. Robinhood Markets traded as high as $49.27 and last traded at $49.14. 20,504,745 shares changed hands during trading, an increase of 1% from the average session volume of 20,298,822 shares. The stock had previously closed at $46.08.

Several other analysts have also commented on the company. JMP Securities boosted their price target on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods upped their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $20.00 to $43.00 in a research report on Tuesday, January 7th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price target for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Finally, Sanford C. Bernstein raised their price objective 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. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.07.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Baiju Bhatt sold 90,866 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $45.27, for a total transaction of $4,113,503.82. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at $228,251.34. This trade represents a 94.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,700,658 shares of company stock worth $140,360,682. Insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently made changes to their positions in HOOD. Toronto Dominion Bank boosted its stake in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after acquiring an additional 16,219 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in Robinhood Markets during the 4th quarter worth approximately $634,000. Baker Avenue Asset Management LP lifted its stake in Robinhood Markets by 77.9% in the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after buying an additional 203,354 shares in the last quarter. Bridgewater Associates LP increased its position in shares of Robinhood Markets by 100.4% during the third quarter. Bridgewater Associates LP now owns 330,956 shares of the company’s stock worth $7,751,000 after acquiring an additional 165,791 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Robinhood Markets by 486.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock worth $103,906,000 after acquiring an additional 2,313,213 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

The firm has a market capitalization of $42.56 billion, a P/E ratio of 81.61, a PEG ratio of 0.58 and a beta of 2.07. The firm’s 50-day moving average is $38.63 and its 200 day moving average is $28.22.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same period in the prior year, the company earned ($0.09) earnings per share. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. As a group, research analysts expect that Robinhood Markets, Inc. will post 0.91 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.