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

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) rose 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. Approximately 20,259,418 shares traded hands during trading, a decline of 33% from the average daily volume of 30,314,160 shares. The stock had previously closed at $98.34.

HOOD has been the topic of several other reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. Compass Point upped their target price on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. increased their price target on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. 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. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. One research 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $79.29.

Insider Activity at Robinhood Markets

In related news, insider Steven M. Quirk sold 104,887 shares of the company's stock in a transaction dated 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 transaction, the insider directly owned 228,621 shares of the company's stock, valued at $16,035,476.94. This represents a 31.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total value of $26,966,067.48. Following the sale, the director directly owned 7,863 shares in the company, valued at $506,848.98. This represents a 98.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,472,702 shares of company stock valued at $179,396,832 over the last ninety days. 14.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently bought and sold shares of the business. Whipplewood Advisors LLC lifted its stake in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares in the last quarter. Hemington Wealth Management raised its holdings in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 218 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of Robinhood Markets in the first quarter valued at approximately $30,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Robinhood Markets in the second quarter valued at approximately $74,000. Finally, Pandora Wealth Inc. purchased a new stake in shares of Robinhood Markets during the first quarter worth approximately $33,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Performance

The company has a 50 day moving average of $73.48 and a 200 day moving average of $55.53. The stock has a market capitalization of $88.93 billion, a price-to-earnings ratio of 57.13, a P/E/G ratio of 5.25 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. Robinhood Markets's quarterly revenue was up 50.0% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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.

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