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

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) gapped up before the market opened on Monday after The Goldman Sachs Group raised their price target on the stock from $22.50 to $25.00. The stock had previously closed at $26.27, but opened at $26.90. The Goldman Sachs Group currently has a neutral rating on the stock. Robinhood Markets shares last traded at $26.42, with a volume of 3,221,330 shares.

Several other brokerages also recently issued reports on HOOD. Keefe, Bruyette & Woods reduced their price objective on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Citigroup raised their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. JMP Securities reissued a “market outperform” rating and issued a $30.00 target price on shares of Robinhood Markets in a research note on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Robinhood Markets in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.10.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 3,225,806 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the completion of the transaction, the director now directly owns 29,357,336 shares of the company’s stock, valued at $735,988,413.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Robinhood Markets news, Director Meyer Malka sold 3,225,806 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the sale, the director now directly owns 29,357,336 shares in the company, valued at approximately $735,988,413.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 208,291 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the completion of the sale, the insider now owns 346,020 shares in the company, valued at $8,643,579.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,541,250 shares of company stock valued at $107,643,767 in the last ninety days. Company 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. ORG Wealth Partners LLC acquired a new stake in shares of Robinhood Markets during the third quarter valued at approximately $33,000. ORG Partners LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at $33,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Robinhood Markets in the 1st quarter valued at $34,000. International Assets Investment Management LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at $40,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

The business’s 50 day moving average price is $21.30 and its 200-day moving average price is $20.65. The company has a market cap of $23.73 billion, a price-to-earnings ratio of 180.00 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The business had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The firm’s quarterly revenue was up 40.3% compared to the same quarter last year. On average, equities research analysts expect that Robinhood Markets, Inc. will post 0.76 earnings per share for the current fiscal 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.