Robinhood Markets (NASDAQ:HOOD) Stock Price Up 4.6% After Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares were up 4.6% during mid-day trading on Monday after The Goldman Sachs Group raised their price target on the stock from $82.00 to $91.00. The Goldman Sachs Group currently has a buy rating on the stock. Robinhood Markets traded as high as $89.09 and last traded at $86.86. Approximately 20,878,712 shares were traded during trading, a decline of 46% from the average daily volume of 39,025,266 shares. The stock had previously closed at $83.03.

HOOD has been the subject of a number of other research reports. Redburn Atlantic reiterated a "sell" rating and set a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Mizuho upped their price target on shares of Robinhood Markets from $65.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. Morgan Stanley boosted their target price on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $71.00 target price on shares of Robinhood Markets in a research report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus price target of $62.29.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Steven M. Quirk sold 92,257 shares of Robinhood Markets stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total value of $7,838,154.72. Following the completion of the sale, the insider now directly owns 136,364 shares of the company's stock, valued at approximately $11,585,485.44. The trade was a 40.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,472,691 shares of company stock worth $139,178,726 over the last 90 days. 19.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Whipplewood Advisors LLC raised its holdings in shares of Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares during the last quarter. Hemington Wealth Management grew its position in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 218 shares during the period. Wayfinding Financial LLC purchased a new stake in Robinhood Markets during the 1st quarter valued at $30,000. Pandora Wealth Inc. bought a new position in shares of Robinhood Markets during the 1st quarter valued at $33,000. Finally, CoreCap Advisors LLC lifted its holdings in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares during the period. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Up 5.7%

The stock has a market capitalization of $77.68 billion, a PE ratio of 49.35, a P/E/G ratio of 4.90 and a beta of 2.25. The stock has a 50 day moving average price of $63.85 and a 200-day moving average price of $51.66.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The firm had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. During the same period in the previous year, the business posted $0.18 earnings per share. The company's revenue for the quarter was up 50.0% on a year-over-year basis. Research analysts forecast 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.

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