Robinhood Markets (NASDAQ:HOOD) Trading 0.6% Higher Following Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares were up 0.6% during trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $56.00 to $64.00. The Goldman Sachs Group currently has a buy rating on the stock. Robinhood Markets traded as high as $63.78 and last traded at $62.94. Approximately 13,771,236 shares traded hands during trading, a decline of 48% from the average daily volume of 26,242,054 shares. The stock had previously closed at $62.57.

Several other research analysts have also recently issued reports on HOOD. Raymond James began coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a "market perform" rating for the company. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. Citigroup cut their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Finally, Mizuho lifted their price target on Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.24.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 94,156 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $55.34, for a total transaction of $5,210,593.04. Following the completion of the sale, the director now directly owns 7,863 shares of the company's stock, valued at $435,138.42. The trade was a 92.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,362,194 shares of company stock worth $116,234,743 in the last ninety days. Insiders own 14.47% of the company's stock.

Institutional Trading of Robinhood Markets

Large investors have recently modified their holdings of the business. Whipplewood Advisors LLC grew its stake in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares in the last quarter. Hemington Wealth Management grew its position in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after buying an additional 218 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets during the fourth quarter worth approximately $26,000. Wayfinding Financial LLC acquired a new position in Robinhood Markets during the 1st quarter worth $30,000. Finally, Pandora Wealth Inc. acquired a new position in Robinhood Markets during the 1st quarter worth $33,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Up 0.5%

The firm has a market capitalization of $55.70 billion, a price-to-earnings ratio of 39.94, a P/E/G ratio of 1.05 and a beta of 2.15. The stock has a 50 day moving average of $43.92 and a 200 day moving average of $42.96.

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 the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Robinhood Markets's revenue was up 50.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 EPS. Analysts predict 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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