Robinhood Markets (NASDAQ:HOOD) Trading Up 0.8% on Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price shot up 0.8% during trading on Monday after Mizuho raised their price target on the stock from $60.00 to $65.00. Mizuho currently has an outperform rating on the stock. Robinhood Markets traded as high as $57.27 and last traded at $56.30. 9,829,647 shares were traded during trading, a decline of 51% from the average session volume of 20,214,084 shares. The stock had previously closed at $55.86.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods lifted their target price on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Barclays boosted their target price on shares of Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Raymond James began coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating for the company. JMP Securities upped their price objective on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 12th. Finally, Sanford C. Bernstein raised their target price on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus target price of $46.67.

Insider Buying and Selling at Robinhood Markets

In related news, insider Steven M. Quirk sold 19,861 shares of the business’s stock in a transaction dated Sunday, December 1st. The stock was sold at an average price of $37.54, for a total transaction of $745,581.94. Following the completion of the transaction, the insider now directly owns 395,166 shares in the company, valued at $14,834,531.64. The trade was a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the transaction, the insider now owns 706,642 shares in the company, valued at $36,462,727.20. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,857,561 shares of company stock valued at $159,976,719 in the last quarter. 19.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets during the 4th quarter valued at about $26,000. HM Payson & Co. raised its stake in shares of Robinhood Markets by 53.5% during the third 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. Eastern Bank bought a new stake in shares of Robinhood Markets in the 3rd quarter worth approximately $30,000. True Wealth Design LLC purchased a new stake in shares of Robinhood Markets in the 3rd quarter valued at $30,000. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after purchasing an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Up 0.7 %

The company has a market cap of $49.74 billion, a P/E ratio of 95.37, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. The company’s fifty day moving average is $43.87 and its 200 day moving average is $31.51.

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.