Robinhood Markets (NASDAQ:HOOD) Trading Up 0.8% on Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price traded up 0.8% during trading on Monday after Mizuho raised their price target on the stock from $60.00 to $65.00. Mizuho currently has an outperform rating on the stock. Robinhood Markets traded as high as $57.27 and last traded at $56.30. 9,829,647 shares changed hands during trading, a decline of 51% from the average session volume of 20,214,084 shares. The stock had previously closed at $55.86.

A number of other analysts have also weighed in on HOOD. Sanford C. Bernstein raised their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price target for the company from $40.00 to $46.00 in a research note on Friday, December 6th. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $20.00 to $43.00 in a report on Tuesday, January 7th. Morgan Stanley lifted their price objective on Robinhood Markets from $55.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Barclays lifted their price objective on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $46.67.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. 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 the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total value of $61,596,164.91. Following the completion of the sale, the director now directly owns 4,974,238 shares of the company’s stock, valued at approximately $199,516,686.18. The trade was a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,857,561 shares of company stock worth $159,976,719 over the last ninety days. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of HOOD. Creative Planning boosted its holdings in shares of Robinhood Markets by 142.8% during the second quarter. Creative Planning now owns 26,290 shares of the company’s stock worth $597,000 after acquiring an additional 15,464 shares during the period. Cetera Investment Advisers boosted its position in shares of Robinhood Markets by 26.2% during the 2nd quarter. Cetera Investment Advisers now owns 66,341 shares of the company’s stock worth $1,507,000 after acquiring an additional 13,792 shares in the last quarter. SG Americas Securities LLC increased its stake in Robinhood Markets by 234.6% in the third quarter. SG Americas Securities LLC now owns 35,957 shares of the company’s stock valued at $842,000 after acquiring an additional 25,210 shares during the last quarter. GAMMA Investing LLC raised its position in Robinhood Markets by 71.3% during the third quarter. GAMMA Investing LLC now owns 3,923 shares of the company’s stock valued at $92,000 after purchasing an additional 1,633 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Robinhood Markets by 66.9% during the 3rd quarter. CWM LLC now owns 38,746 shares of the company’s stock worth $907,000 after buying an additional 15,524 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Up 0.5 %

The firm has a 50 day moving average of $43.49 and a two-hundred day moving average of $31.26. The firm has a market capitalization of $49.61 billion, a price-to-earnings ratio of 95.23, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13.

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.