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

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares gapped up prior to trading on Monday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $27.00 to $32.00. The stock had previously closed at $30.54, but opened at $32.94. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Robinhood Markets shares last traded at $33.15, with a volume of 13,748,664 shares changing hands.

Other analysts have also issued reports about the stock. Morgan Stanley boosted their price objective on shares of Robinhood Markets from $22.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday. Citigroup increased their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, September 27th. Needham & Company LLC reissued a "hold" rating on shares of Robinhood Markets in a research report on Thursday, October 31st. Barclays raised their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. Finally, KeyCorp raised their target price on shares of Robinhood Markets from $25.00 to $30.00 and gave the company an "overweight" rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $25.63.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Baiju Bhatt sold 143,944 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total transaction of $2,696,071.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The disclosure for this sale can be found here. Insiders sold 4,854,493 shares of company stock worth $118,173,265 in the last 90 days. 19.95% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

Institutional investors have recently modified their holdings of the company. Intech Investment Management LLC lifted its position in Robinhood Markets by 871.9% during the 3rd quarter. Intech Investment Management LLC now owns 192,960 shares of the company's stock worth $4,519,000 after acquiring an additional 173,107 shares in the last quarter. EULAV Asset Management lifted its position in Robinhood Markets by 22.2% during the 3rd quarter. EULAV Asset Management now owns 550,000 shares of the company's stock worth $12,881,000 after acquiring an additional 100,000 shares in the last quarter. Commerce Bank lifted its position in Robinhood Markets by 3.3% during the 3rd quarter. Commerce Bank now owns 13,245 shares of the company's stock worth $310,000 after acquiring an additional 423 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Robinhood Markets in the 3rd quarter valued at approximately $365,000. Finally, Banque Cantonale Vaudoise raised its position in shares of Robinhood Markets by 77.0% in the 3rd quarter. Banque Cantonale Vaudoise now owns 132,523 shares of the company's stock valued at $3,104,000 after purchasing an additional 57,663 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Up 7.4 %

The company has a market capitalization of $28.99 billion, a price-to-earnings ratio of 55.59, a price-to-earnings-growth ratio of 0.73 and a beta of 1.84. The stock has a 50-day simple moving average of $24.42 and a 200-day simple moving average of $21.94.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business's revenue was up 36.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.09) earnings per share. On average, research analysts forecast that Robinhood Markets, Inc. will post 0.71 EPS for the current 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.