Robinhood Markets (NASDAQ:HOOD) Stock Price Up 6.6% on Analyst Upgrade

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) were up 6.6% during trading on Friday after Morgan Stanley raised their price target on the stock from $55.00 to $64.00. Morgan Stanley currently has an overweight rating on the stock. Robinhood Markets traded as high as $49.27 and last traded at $49.14. Approximately 20,504,745 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 20,298,822 shares. The stock had previously closed at $46.08.

HOOD has been the subject of a number of other reports. Barclays raised their price target on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. KeyCorp raised 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. Keefe, Bruyette & Woods raised their price target 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. Deutsche Bank Aktiengesellschaft raised their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Sanford C. Bernstein raised their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.07.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 108,964 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $24.92, for a total value of $2,715,382.88. Following the transaction, the director now owns 2,521 shares of the company’s stock, valued at $62,823.32. This represents a 97.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,700,658 shares of company stock valued at $140,360,682 in the last 90 days. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

A number of institutional investors and hedge funds have recently bought and sold shares of the business. HM Payson & Co. raised its stake in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares in the last quarter. Commerce Bank boosted its holdings in shares of Robinhood Markets by 3.3% in the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after acquiring an additional 423 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Robinhood Markets by 16.5% in the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after acquiring an additional 487 shares in the last quarter. Castleview Partners LLC boosted its holdings in Robinhood Markets by 18.2% during the third quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock worth $89,000 after buying an additional 582 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in Robinhood Markets by 3.1% during the third quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock worth $463,000 after buying an additional 598 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Up 4.5 %

The stock has a market cap of $42.56 billion, a PE ratio of 81.61, a P/E/G ratio of 0.58 and a beta of 2.07. The business’s fifty day moving average is $38.63 and its 200 day moving average is $28.22.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data 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 business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same period last year, the business earned ($0.09) earnings per share. As a group, analysts predict that Robinhood Markets, Inc. will post 0.91 EPS for the current year.

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.