Robinhood Markets (NASDAQ:HOOD) Trading 2.8% Higher Following Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price shot up 2.8% during trading on Friday 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 $55.32 and last traded at $54.66. 9,338,200 shares were traded during trading, a decline of 53% from the average session volume of 19,992,994 shares. The stock had previously closed at $53.17.

HOOD has been the topic of a number of other reports. Citigroup increased their target price on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. KeyCorp upped their price target on Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Piper Sandler upped their price target on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. JMP Securities upped their price target on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Finally, Barclays upped their price target on Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.67.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 19,861 shares of the stock in a transaction dated Sunday, December 1st. The shares were sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the transaction, the insider now directly owns 395,166 shares of the company’s stock, valued at approximately $14,834,531.64. This trade represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $37.92, for a total transaction of $222,817.92. Following the completion of the transaction, the chief technology officer now directly owns 11,752 shares of the company’s stock, valued at approximately $445,635.84. This trade represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,857,561 shares of company stock worth $159,976,719. Company insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $226,000. HighTower Advisors LLC lifted its holdings in shares of Robinhood Markets by 57.6% during the 4th quarter. HighTower Advisors LLC now owns 47,232 shares of the company’s stock valued at $1,760,000 after acquiring an additional 17,264 shares in the last quarter. AGF Management Ltd. acquired a new position in shares of Robinhood Markets during the 4th quarter valued at $55,437,000. SPX Gestao de Recursos Ltda acquired a new position in shares of Robinhood Markets during the 4th quarter valued at $2,403,000. Finally, JW Asset Management LLC acquired a new position in shares of Robinhood Markets during the 4th quarter valued at $373,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

The firm has a market cap of $49.38 billion, a price-to-earnings ratio of 94.68, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13. The company’s fifty day moving average is $43.49 and its two-hundred day moving average is $31.13.

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.