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

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price traded up 2.8% on Monday after JMP Securities raised their price target on the stock from $70.00 to $125.00. JMP Securities currently has a market outperform rating on the stock. Robinhood Markets traded as high as $101.89 and last traded at $101.14. 20,259,418 shares were traded during trading, a decline of 33% from the average session volume of 30,314,160 shares. The stock had previously closed at $98.34.

Several other equities analysts have also recently issued reports on HOOD. Citigroup boosted their price objective on Robinhood Markets from $50.00 to $100.00 and gave the company a “neutral” rating in a report on Monday, July 7th. Morgan Stanley boosted their price objective on Robinhood Markets from $40.00 to $43.00 and gave the company an “equal weight” rating in a report on Tuesday, May 13th. The Goldman Sachs Group boosted their price objective on Robinhood Markets from $91.00 to $104.00 and gave the company a “buy” rating in a report on Monday, July 7th. Redburn Atlantic reissued a “sell” rating and issued a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $79.29.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total transaction of $69,952,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the sale, the insider directly owned 228,621 shares of the company’s stock, valued at $16,035,476.94. The trade was a 31.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,472,702 shares of company stock valued at $179,396,832 over the last quarter. 14.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock valued at $3,089,914,000 after purchasing an additional 5,874,701 shares in the last quarter. FMR LLC grew its position in shares of Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC grew its position in shares of Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock valued at $900,159,000 after purchasing an additional 273,860 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock valued at $455,464,000 after purchasing an additional 555,299 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after purchasing an additional 3,091,514 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Up 1.6%

The business has a 50-day moving average price of $74.52 and a 200-day moving average price of $55.96. The firm has a market capitalization of $88.51 billion, a PE ratio of 56.80, a price-to-earnings-growth ratio of 5.25 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to analysts’ expectations of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The company’s revenue was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 earnings per share. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 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.