Robinhood Markets (NASDAQ:HOOD) Shares Up 1% After Analyst Upgrade

Key Points

• Robinhood Markets' shares rose 1% after Citigroup upgraded its price target from $120.00 to $135.00, maintaining a neutral rating on the stock.
• Insiders have sold a total of 5.76 million shares of Robinhood stock valued at approximately $588.8 million in recent transactions.
• Institutional investors now own 93.27% of Robinhood's stock, with significant increases in holdings by firms such as WCM Investment Management and Vanguard Group.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares traded up 1% on Tuesday after Citigroup raised their price target on the stock from $120.00 to $135.00. Citigroup currently has a neutral rating on the stock. Robinhood Markets traded as high as $127.78 and last traded at $126.20. 28,842,934 shares were traded during trading, a decline of 32% from the average session volume of 42,363,645 shares. The stock had previously closed at $124.89.

A number of other brokerages have also recently commented on HOOD. Compass Point upped their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. KeyCorp upped their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Cantor Fitzgerald upped their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Finally, Redburn Atlantic reiterated a "sell" rating and issued a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $104.06.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total transaction of $49,957,923.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $100.92, for a total transaction of $2,523,000.00. Following the transaction, the insider directly owned 610,949 shares in the company, valued at $61,656,973.08. This trade represents a 3.93% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,767,855 shares of company stock valued at $588,837,174. 19.95% of the stock is currently owned by company insiders.

Institutional Trading of Robinhood Markets

A number of institutional investors have recently modified their holdings of HOOD. WCM Investment Management LLC raised its position in Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company's stock worth $1,081,910,000 after buying an additional 11,244,182 shares during the last quarter. Norges Bank acquired a new stake in Robinhood Markets during the 2nd quarter worth $973,122,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of Robinhood Markets during the 2nd quarter valued at about $951,479,000. Vanguard Group Inc. boosted its position in shares of Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after acquiring an additional 5,874,701 shares during the last quarter. Finally, AGF Management Ltd. boosted its position in shares of Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after acquiring an additional 4,255,862 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Up 1.0%

The stock's 50-day simple moving average is $108.90 and its 200 day simple moving average is $76.89. The company has a market cap of $112.15 billion, a price-to-earnings ratio of 64.06, a PEG ratio of 4.62 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. The company had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. Robinhood Markets's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 earnings per share. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 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.

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