Robinhood Markets (NASDAQ:HOOD) Stock Price Up 3.2% on Analyst Upgrade

Key Points

• Robinhood Markets shares rose 3.2% after Goldman Sachs lifted its price target from $108 to $121 and kept a buy rating on the stock. The shares traded as high as $102.85 during the session.
• Other analysts remain constructive on HOOD, with multiple firms recently raising targets or reiterating bullish ratings. MarketBeat says the stock has a consensus Moderate Buy rating and an average price target of $114.41.
• Recent company and ownership data show mixed signals: insiders have both bought and sold shares over the past 90 days, while hedge funds and institutional investors continue to hold the vast majority of the stock. Robinhood also recently reported quarterly EPS and revenue below expectations, though revenue still grew 15.1% year over year.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares were up 3.2% during mid-day trading on Monday after The Goldman Sachs Group raised their price target on the stock from $108.00 to $121.00. The Goldman Sachs Group currently has a buy rating on the stock. Robinhood Markets traded as high as $102.85 and last traded at $101.83. Approximately 20,607,761 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 30,526,232 shares. The stock had previously closed at $98.69.

Several other analysts have also commented on HOOD. Needham & Company LLC increased their price target on shares of Robinhood Markets from $85.00 to $97.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. KeyCorp reiterated an "overweight" rating and set a $100.00 price objective on shares of Robinhood Markets in a research note on Monday, June 1st. Sanford C. Bernstein reissued an "outperform" rating and set a $130.00 target price on shares of Robinhood Markets in a research report on Tuesday, April 14th. Mizuho raised their target price on shares of Robinhood Markets from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, May 29th. Finally, BTIG Research began coverage on Robinhood Markets in a research note on Friday. They set a "buy" rating and a $125.00 target price on the stock. Nineteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $114.41.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 67,422 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total value of $5,082,270.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $76.89, for a total transaction of $768,900.00. Following the completion of the transaction, the insider owned 432,849 shares of the company's stock, valued at approximately $33,281,759.61. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders bought 680,000 shares of company stock valued at $55,306,560 and sold 633,484 shares valued at $47,542,923. Insiders own 19.95% of the company's stock.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently made changes to their positions in HOOD. Truist Financial Corp lifted its stake in Robinhood Markets by 88.9% in the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company's stock worth $16,455,000 after purchasing an additional 68,458 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Robinhood Markets by 86.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company's stock valued at $11,406,000 after purchasing an additional 46,688 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Robinhood Markets by 26.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 365,551 shares of the company's stock valued at $44,477,000 after purchasing an additional 76,075 shares during the last quarter. Capital Wealth Planning LLC increased its holdings in shares of Robinhood Markets by 238.5% in the third quarter. Capital Wealth Planning LLC now owns 48,438 shares of the company's stock valued at $6,935,000 after purchasing an additional 34,129 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in Robinhood Markets by 196.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 722,857 shares of the company's stock worth $81,755,000 after buying an additional 478,919 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Up 3.2%

The stock has a 50-day moving average of $85.85 and a 200 day moving average of $90.09. The stock has a market cap of $91.70 billion, a PE ratio of 49.19, a P/E/G ratio of 2.32 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the previous year, the company earned $0.37 earnings per share. The firm's quarterly revenue was up 15.1% compared to the same quarter last year. Research analysts forecast that Robinhood Markets, Inc. will post 1.81 EPS for the current fiscal year.

About Robinhood Markets

Robinhood Markets, Inc NASDAQ: HOOD is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to "democratize finance for all." Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood's core products and services include a mobile app and web platform for trading U.S.

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