Robinhood Markets (NASDAQ:HOOD) Rating Increased to Overweight at Barclays

Robinhood Markets (NASDAQ:HOOD - Get Free Report) was upgraded by equities research analysts at Barclays from an "equal weight" rating to an "overweight" rating in a report released on Monday, MarketBeat.com reports. The firm currently has a $49.00 price target on the stock, up from their previous price target of $26.00. Barclays's price objective would suggest a potential upside of 23.93% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Piper Sandler lifted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company an "overweight" rating in a research report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday. Bank of America increased their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday, August 12th. Morgan Stanley upgraded Robinhood Markets from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $24.00 to $55.00 in a report on Monday, November 25th. Finally, Needham & Company LLC upgraded Robinhood Markets from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and an average target price of $38.13.

Robinhood Markets Stock Down 5.1 %

Shares of HOOD traded down $2.13 on Monday, reaching $39.54. The stock had a trading volume of 26,385,522 shares, compared to its average volume of 25,245,844. Robinhood Markets has a twelve month low of $10.38 and a twelve month high of $42.76. The firm has a market capitalization of $34.95 billion, a PE ratio of 70.63, a PEG ratio of 0.93 and a beta of 2.08. The firm has a 50-day moving average of $30.09 and a 200 day moving average of $24.39.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business's revenue was up 36.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) earnings per share. On average, sell-side analysts anticipate that Robinhood Markets will post 0.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Meyer Malka sold 1,535,681 shares of Robinhood Markets 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 directly owns 4,974,238 shares of the company's stock, valued at approximately $199,516,686.18. The trade was a 23.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total transaction of $477,750.00. Following the completion of the transaction, the insider now directly owns 1,106,955 shares in the company, valued at $42,307,820.10. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,851,175 shares of company stock valued at $169,980,708 in the last quarter. Insiders own 19.95% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently made changes to their positions in the company. FMR LLC boosted its position in Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company's stock worth $330,914,000 after acquiring an additional 3,368,118 shares during the period. State Street Corp increased its stake in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company's stock valued at $317,536,000 after acquiring an additional 1,085,679 shares during the period. Geode Capital Management LLC lifted its position in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company's stock worth $271,708,000 after purchasing an additional 1,895,427 shares during the period. Renaissance Technologies LLC raised its stake in shares of Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company's stock worth $173,770,000 after buying an additional 2,094,800 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Robinhood Markets by 33.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company's stock valued at $107,298,000 after acquiring an additional 1,137,677 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

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.