Robinhood Markets (NASDAQ:HOOD) Stock Price Up 1.2% After Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price traded up 1.2% on Friday after Citigroup raised their price target on the stock from $45.00 to $60.00. Citigroup currently has a neutral rating on the stock. Robinhood Markets traded as high as $66.08 and last traded at $64.58. 16,103,435 shares changed hands during trading, a decline of 31% from the average session volume of 23,416,344 shares. The stock had previously closed at $63.80.

HOOD has been the subject of several other reports. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and upped their target price for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Needham & Company LLC boosted their target price on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays upped their price objective on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday. Raymond James initiated coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.07.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven M. Quirk sold 19,861 shares of the business’s stock in a transaction dated Sunday, December 1st. The stock was sold at an average price of $37.54, for a total transaction of $745,581.94. Following the sale, the insider now owns 395,166 shares in the company, valued at $14,834,531.64. This trade represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,948,427 shares of company stock valued at $165,005,244 in the last quarter. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank raised its position in shares of 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 buying an additional 16,219 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of Robinhood Markets during the 4th quarter worth about $634,000. Atomi Financial Group Inc. raised its position in shares of Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after buying an additional 92,613 shares in the last quarter. Requisite Capital Management LLC bought a new stake in shares of Robinhood Markets in the 4th quarter worth approximately $266,000. Finally, Baker Avenue Asset Management LP raised its holdings in shares of Robinhood Markets by 77.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after purchasing an additional 203,354 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Trading Up 1.2 %

The business’s fifty day moving average is $44.98 and its 200 day moving average is $32.13. The firm has a market capitalization of $57.10 billion, a P/E ratio of 109.39, a P/E/G ratio of 0.73 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 0.97 earnings per share 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.