Robinhood Markets (NASDAQ:HOOD) Trading Up 1.2% on Analyst Upgrade

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) were up 1.2% on Friday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $19.00 to $20.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Robinhood Markets traded as high as $22.06 and last traded at $21.98. Approximately 4,958,617 shares traded hands during trading, a decline of 70% from the average daily volume of 16,336,565 shares. The stock had previously closed at $21.73.

A number of other equities research analysts have also recently weighed in on the company. Citigroup raised their price target on Robinhood Markets from $16.00 to $18.00 and gave the company a “sell” rating in a report on Thursday, June 13th. JMP Securities reissued a “market outperform” rating and issued a $30.00 target price on shares of Robinhood Markets in a research note on Friday, June 7th. Sanford C. Bernstein started coverage on Robinhood Markets in a research note on Thursday, March 14th. They issued an “outperform” rating and a $30.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research note on Thursday, June 6th. Finally, Bank of America raised Robinhood Markets from an “underperform” rating to a “buy” rating and lifted their target price for the company from $14.00 to $24.00 in a research note on Friday, May 17th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.18.

Insider Buying and Selling

In related news, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.59, for a total transaction of $97,950.00. Following the completion of the sale, the chief financial officer now directly owns 1,002,407 shares of the company’s stock, valued at $19,637,153.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.59, for a total transaction of $97,950.00. Following the completion of the sale, the chief financial officer now directly owns 1,002,407 shares of the company’s stock, valued at $19,637,153.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $21.05, for a total value of $263,125.00. Following the sale, the insider now directly owns 943,815 shares of the company’s stock, valued at $19,867,305.75. The disclosure for this sale can be found here. Insiders sold a total of 1,365,507 shares of company stock valued at $25,995,973 over the last three months. Company insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. Spire Wealth Management bought a new position in Robinhood Markets during the fourth quarter worth about $26,000. PNC Financial Services Group Inc. lifted its holdings in Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Robinhood Markets during the first quarter worth about $34,000. Whittier Trust Co. lifted its holdings in Robinhood Markets by 100.0% during the fourth quarter. Whittier Trust Co. now owns 4,634 shares of the company’s stock worth $59,000 after acquiring an additional 2,317 shares in the last quarter. Finally, SageView Advisory Group LLC bought a new position in Robinhood Markets during the first quarter worth about $84,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Up 2.6 %

The company has a fifty day simple moving average of $19.47 and a two-hundred day simple moving average of $15.96. The stock has a market capitalization of $19.59 billion, a P/E ratio of 148.60 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. The company had revenue of $618.00 million for the quarter, compared to analyst estimates of $552.74 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The company’s quarterly revenue was up 40.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.57) earnings per share. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 0.53 earnings per share 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.