Robinhood Markets (NASDAQ:HOOD) Stock Price Up 3.6% on Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) was up 3.6% on Wednesday after Piper Sandler raised their price target on the stock from $70.00 to $110.00. Piper Sandler currently has an overweight rating on the stock. Robinhood Markets traded as high as $104.16 and last traded at $103.09. Approximately 21,120,368 shares changed hands during trading, a decline of 31% from the average daily volume of 30,488,731 shares. The stock had previously closed at $99.54.

Several other equities analysts also recently commented on HOOD. JPMorgan Chase & Co. boosted their price objective on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Citigroup boosted their price target on Robinhood Markets from $50.00 to $100.00 and gave the stock a "neutral" rating in a report on Monday, July 7th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. Redburn Atlantic reiterated a "sell" rating and set a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Finally, KeyCorp boosted their target price on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $85.29.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 114,175 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $101.65, for a total transaction of $11,605,888.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $93.51, for a total value of $548,342.64. Following the sale, the chief technology officer owned 8,908 shares in the company, valued at $832,987.08. The trade was a 39.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,364,145 shares of company stock valued at $181,837,741. Corporate insiders own 14.47% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in shares of Robinhood Markets during the second quarter valued at approximately $951,479,000. Norges Bank purchased a new stake in shares of Robinhood Markets in the fourth quarter worth approximately $329,598,000. GQG Partners LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter worth approximately $302,325,000. Finally, Vanguard Group Inc. lifted its stake 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 worth $3,089,914,000 after acquiring an additional 5,874,701 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Performance

The stock has a fifty day moving average of $76.60 and a 200-day moving average of $56.58. The company has a market cap of $93.37 billion, a PE ratio of 59.92, a PEG ratio of 5.14 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results 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 for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The firm's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. As a group, equities analysts anticipate 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.