Robinhood Markets (NASDAQ:HOOD) Shares Up 2.8% After Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price traded up 2.8% during trading on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $24.00 to $38.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Robinhood Markets traded as high as $38.03 and last traded at $37.97. 9,118,401 shares were traded during mid-day trading, a decline of 46% from the average session volume of 17,012,533 shares. The stock had previously closed at $36.94.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. upped their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an "underweight" rating in a research note on Thursday, October 17th. The Goldman Sachs Group raised shares of Robinhood Markets from a "neutral" rating to a "buy" rating and raised their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. Needham & Company LLC reissued a "buy" rating and issued a $52.00 price objective (up from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Finally, JMP Securities raised their target price on Robinhood Markets from $33.00 to $40.00 and gave the company a "market outperform" rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $39.20.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 1,535,681 shares of the company's stock in a transaction dated 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 transaction, the director now owns 4,974,238 shares in the company, valued at approximately $199,516,686.18. This represents a 23.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm's stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $22.37, for a total transaction of $279,625.00. Following the completion of the sale, the insider now owns 1,057,500 shares in the company, valued at $23,656,275. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,037,689 shares of company stock worth $177,092,487 over the last ninety days. Company insiders own 19.95% of the company's stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank boosted its position in 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 acquiring an additional 16,219 shares during the period. Baker Avenue Asset Management LP lifted its holdings in Robinhood Markets by 77.9% in the third 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 during the period. Bridgewater Associates LP grew its position in Robinhood Markets by 100.4% in the 3rd quarter. Bridgewater Associates LP now owns 330,956 shares of the company's stock valued at $7,751,000 after buying an additional 165,791 shares in the last quarter. EULAV Asset Management increased its stake in Robinhood Markets by 22.2% during the 3rd quarter. EULAV Asset Management now owns 550,000 shares of the company's stock valued at $12,881,000 after buying an additional 100,000 shares during the period. Finally, Blueshift Asset Management LLC raised its position in shares of Robinhood Markets by 376.5% during the 3rd quarter. Blueshift Asset Management LLC now owns 144,941 shares of the company's stock worth $3,395,000 after buying an additional 114,525 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Stock Performance

The business's 50 day moving average price is $33.11 and its two-hundred day moving average price is $25.62. The company has a market capitalization of $33.88 billion, a price-to-earnings ratio of 64.97, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share 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 for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter last year, the business posted ($0.09) EPS. The business's revenue for the quarter was up 36.4% on a year-over-year basis. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 0.8 earnings per share 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.