Robinhood Markets (NASDAQ:HOOD) Trading Up 6.1% on Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price rose 6.1% during mid-day trading on Tuesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $54.00 to $64.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Robinhood Markets traded as high as $61.55 and last traded at $60.92. Approximately 20,483,601 shares traded hands during trading, a decline of 22% from the average daily volume of 26,145,062 shares. The stock had previously closed at $57.43.

A number of other equities research analysts also recently weighed in on the company. Cantor Fitzgerald reduced their target price on Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Wolfe Research downgraded Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Mizuho raised their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. KeyCorp reduced their target price on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. raised their target price on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average target price of $55.41.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the sale, the chief technology officer now directly owns 17,559 shares in the company, valued at $821,936.79. This trade represents a 25.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven M. Quirk sold 123,272 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.80, for a total value of $6,878,577.60. Following the completion of the sale, the insider now owns 298,826 shares of the company's stock, valued at approximately $16,674,490.80. This represents a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,947,622 shares of company stock valued at $89,994,656. Corporate insiders own 14.47% of the company's stock.

Institutional Trading of Robinhood Markets

Several large investors have recently made changes to their positions in HOOD. AdvisorNet Financial Inc grew its stake in shares of Robinhood Markets by 34.6% in the 4th quarter. AdvisorNet Financial Inc now owns 3,372 shares of the company's stock valued at $126,000 after buying an additional 867 shares during the period. SeaCrest Wealth Management LLC acquired a new position in Robinhood Markets during the 4th quarter valued at about $254,000. Park Avenue Securities LLC acquired a new position in Robinhood Markets during the 4th quarter valued at about $1,447,000. Ritholtz Wealth Management acquired a new position in Robinhood Markets during the 4th quarter valued at about $375,000. Finally, Hennessy Advisors Inc. acquired a new position in Robinhood Markets during the 4th quarter valued at about $1,304,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

The firm has a market cap of $54.69 billion, a price-to-earnings ratio of 39.34, a P/E/G ratio of 1.05 and a beta of 2.15. The business has a 50 day simple moving average of $45.27 and a 200-day simple moving average of $43.54.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The company had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Robinhood Markets's revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. As a group, research analysts anticipate 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.