Robinhood Markets (NASDAQ:HOOD) Shares Gap Up Following Analyst Upgrade

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) gapped up before the market opened on Tuesday after Barclays raised their price target on the stock from $49.00 to $54.00. The stock had previously closed at $39.59, but opened at $41.80. Barclays currently has an overweight rating on the stock. Robinhood Markets shares last traded at $42.33, with a volume of 4,721,941 shares traded.

HOOD has been the subject of a number of other reports. Keefe, Bruyette & Woods upped their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a "market perform" rating in a research report on Friday, December 20th. KeyCorp upped their price target on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. JMP Securities lifted their price objective on Robinhood Markets from $33.00 to $40.00 and gave the stock a "market outperform" rating in a report on Tuesday, November 12th. Citigroup increased their target price on Robinhood Markets from $25.00 to $45.00 and gave the company a "neutral" rating in a report on Friday. Finally, Morgan Stanley upgraded Robinhood Markets from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $24.00 to $55.00 in a research report on Monday, November 25th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $42.47.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 98,404 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $26.40, for a total value of $2,597,865.60. Following the completion of the transaction, the director now directly owns 2,521 shares in the company, valued at approximately $66,554.40. This represents a 97.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction on Monday, January 6th. The shares were sold at an average price of $42.64, for a total value of $250,552.64. Following the completion of the sale, the chief technology officer now owns 5,876 shares in the company, valued at $250,552.64. This represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,708,196 shares of company stock worth $138,845,043 in the last quarter. Company insiders own 19.95% of the company's stock.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds have recently modified their holdings of HOOD. Allspring Global Investments Holdings LLC increased its holdings in Robinhood Markets by 1,211,858.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company's stock valued at $89,410,000 after purchasing an additional 3,817,355 shares during the last quarter. Azora Capital LP purchased a new position in shares of Robinhood Markets during the third quarter worth $79,780,000. FMR LLC grew its stake in shares of Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company's stock valued at $330,914,000 after buying an additional 3,368,118 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Robinhood Markets by 486.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company's stock valued at $103,906,000 after buying an additional 2,313,213 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Robinhood Markets by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company's stock worth $173,770,000 after acquiring an additional 2,094,800 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Trading Up 5.5 %

The company has a market capitalization of $36.91 billion, a PE ratio of 70.78, a PEG ratio of 0.81 and a beta of 2.07. The business has a fifty day moving average of $37.63 and a 200 day moving average of $27.75.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business had revenue of $637.00 million during the quarter, compared to analysts' expectations of $660.53 million. During the same period in the previous year, the business posted ($0.09) EPS. The company's revenue for the quarter was up 36.4% compared to the same quarter last year. Equities analysts forecast that Robinhood Markets, Inc. will post 0.8 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.