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

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price traded up 2.8% 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.

HOOD has been the subject of a number of other research reports. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft increased 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. Barclays upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $26.00 to $49.00 in a research report on Monday, December 9th. Citigroup increased their target price on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Finally, KeyCorp upped 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus target price of $39.20.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 186,514 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the transaction, the director now directly owns 2,521 shares in the company, valued at approximately $96,125.73. The trade was a 98.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $23.42, for a total transaction of $545,522.06. Following the completion of the sale, the insider now owns 1,070,000 shares of the company’s stock, valued at approximately $25,059,400. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,037,689 shares of company stock worth $177,092,487. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds have recently added to or reduced their stakes in HOOD. Garden State Investment Advisory Services LLC bought a new stake in shares of Robinhood Markets during the 3rd quarter worth about $263,000. Franklin Resources Inc. bought a new stake in shares of Robinhood Markets during the third quarter worth approximately $6,321,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Robinhood Markets in the third quarter valued at approximately $351,000. Sanctuary Advisors LLC grew its position in shares of Robinhood Markets by 44.1% in the third quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company’s stock valued at $1,481,000 after purchasing an additional 19,345 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after purchasing an additional 16,219 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Trading Up 3.8 %

The firm has a market capitalization of $33.88 billion, a P/E ratio of 64.97, a P/E/G ratio of 0.76 and a beta of 2.09. The company has a 50 day moving average of $33.11 and a 200-day moving average of $25.62.

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 the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. During the same quarter last year, the firm earned ($0.09) EPS. Robinhood Markets’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 0.8 EPS 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.