Robinhood Markets (NASDAQ:HOOD) Coverage Initiated at Raymond James

Analysts at Raymond James initiated coverage on shares of Robinhood Markets (NASDAQ:HOOD - Get Free Report) in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage set a "market perform" rating on the stock.

A number of other analysts have also commented on the company. Citigroup raised their price target on Robinhood Markets from $25.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. JPMorgan Chase & Co. raised shares of 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 research note on Tuesday, January 7th. Needham & Company LLC reissued a "buy" rating and issued a $52.00 target price (up from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Keefe, Bruyette & Woods raised their price target on shares of 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, The Goldman Sachs Group upgraded Robinhood Markets from a "neutral" rating to a "buy" rating and increased their target price for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.67.

Robinhood Markets Stock Performance

NASDAQ:HOOD traded up $2.69 during midday trading on Wednesday, reaching $55.86. 24,890,536 shares of the stock traded hands, compared to its average volume of 20,649,189. The company has a fifty day moving average of $43.49 and a 200 day moving average of $31.13. The stock has a market capitalization of $49.38 billion, a P/E ratio of 94.68, a PEG ratio of 0.70 and a beta of 2.13. Robinhood Markets has a 12 month low of $11.00 and a 12 month high of $55.98.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total transaction of $477,750.00. Following the sale, the insider now owns 1,106,955 shares in the company, valued at approximately $42,307,820.10. The trade was a 1.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,857,561 shares of company stock valued at $159,976,719. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC bought a new position in shares of Robinhood Markets in the fourth quarter worth about $226,000. HighTower Advisors LLC lifted its holdings in Robinhood Markets by 57.6% in the 4th quarter. HighTower Advisors LLC now owns 47,232 shares of the company's stock worth $1,760,000 after purchasing an additional 17,264 shares in the last quarter. AGF Management Ltd. bought a new position in Robinhood Markets in the 4th quarter worth approximately $55,437,000. SPX Gestao de Recursos Ltda purchased a new stake in Robinhood Markets during the 4th quarter valued at approximately $2,403,000. Finally, JW Asset Management LLC bought a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $373,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.