Robinhood Markets (NASDAQ:HOOD) Trading Up 1.1% on Analyst Upgrade

Key Points

• Robinhood Markets' stock price increased by 1.1% following an upgrade from Citizens Jmp, who raised their price target on the stock from $130.00 to $170.00.
• Insider trading reports reveal that CEO Vladimir Tenev sold 750,000 shares at an average price of $139.73, totaling over $104 million in transactions.
• The company reported a net margin of 50.13% for the last quarter, with earnings per share of $0.42, outperforming analysts' expectations.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) rose 1.1% on Thursday after Citizens Jmp raised their price target on the stock from $130.00 to $170.00. Citizens Jmp currently has a mkt outperform rating on the stock. Robinhood Markets traded as high as $153.08 and last traded at $152.46. Approximately 19,538,058 shares were traded during trading, a decline of 53% from the average daily volume of 41,783,059 shares. The stock had previously closed at $150.87.

Several other equities analysts have also recently commented on the stock. Compass Point boosted their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. Weiss Ratings reiterated a "hold (c)" rating on shares of Robinhood Markets in a report on Wednesday. Citigroup upped their price objective on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Tuesday, September 23rd. The Goldman Sachs Group upped their price objective on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Finally, Morgan Stanley upped their price objective on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 1st. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $118.94.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Meyer Malka sold 1,093,288 shares of the company's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the transaction, the director directly owned 3,976,234 shares of the company's stock, valued at $413,011,425.58. This represents a 21.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,681,462 shares of company stock worth $618,250,191 over the last ninety days. Corporate insiders own 14.47% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HOOD. Hantz Financial Services Inc. grew its stake in Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company's stock worth $25,000 after buying an additional 148 shares during the last quarter. Hemington Wealth Management grew its stake in 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 during the last quarter. Smithfield Trust Co bought a new stake in Robinhood Markets during the second quarter worth about $29,000. Wayfinding Financial LLC bought a new stake in Robinhood Markets during the first quarter worth about $30,000. Finally, Pandora Wealth Inc. bought a new stake in Robinhood Markets during the first quarter worth about $33,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Price Performance

The stock has a market capitalization of $135.49 billion, a P/E ratio of 77.39, a PEG ratio of 4.03 and a beta of 2.42. The company's 50 day simple moving average is $116.93 and its two-hundred day simple moving average is $84.46.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. During the same period in the prior year, the firm earned $0.21 earnings per share. The company's quarterly revenue was up 45.0% compared to the same quarter last year. On average, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

About Robinhood Markets

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.