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

Robinhood Markets, Inc. (NASDAQ:HOOD) gapped up before the market opened on Monday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $27.00 to $32.00. The stock had previously closed at $30.54, but opened at $32.94. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Robinhood Markets shares last traded at $33.15, with a volume of 13,748,664 shares trading hands.

A number of other equities research analysts have also recently weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. KeyCorp boosted their price target on shares of Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a research report on Thursday, October 31st. Barclays boosted their price target on shares of Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Bank of America boosted their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Robinhood Markets has an average rating of “Hold” and a consensus target price of $25.63.

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the transaction, the insider now directly owns 1,045,068 shares in the company, valued at $20,201,164.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the sale, the insider now directly owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total value of $4,815,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,854,493 shares of company stock worth $118,173,265. 19.95% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

Hedge funds have recently added to or reduced their stakes in the company. HM Payson & Co. lifted its holdings in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares during the last quarter. Eastern Bank acquired a new stake in Robinhood Markets during the 3rd quarter worth approximately $30,000. ORG Wealth Partners LLC acquired a new stake in Robinhood Markets during the 3rd quarter worth approximately $33,000. ORG Partners LLC acquired a new stake in Robinhood Markets during the 2nd quarter worth approximately $33,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Robinhood Markets during the 1st quarter worth approximately $34,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

The stock has a market capitalization of $28.99 billion, a price-to-earnings ratio of 55.59, a PEG ratio of 0.73 and a beta of 1.84. The company has a fifty day simple moving average of $24.42 and a two-hundred day simple moving average of $21.94.

Robinhood Markets (NASDAQ:HOOD) last announced 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). The company had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets’s revenue was up 36.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) earnings per share. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 0.71 earnings per share for the current 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.