Robinhood Markets (NASDAQ:HOOD) Trading Up 1.5% on Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price rose 1.5% during trading on Friday after Barclays raised their price target on the stock from $57.00 to $102.00. Barclays currently has an overweight rating on the stock. Robinhood Markets traded as high as $101.50 and last traded at $100.20. Approximately 24,521,378 shares were traded during trading, a decline of 18% from the average daily volume of 30,069,931 shares. The stock had previously closed at $98.70.

A number of other equities research analysts have also issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a report on Monday. Morgan Stanley increased their price target on Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. JMP Securities reiterated a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a report on Thursday, May 1st. Citigroup upped their target price on shares of Robinhood Markets from $50.00 to $100.00 and gave the company a "neutral" rating in a research report on Monday. Finally, KeyCorp boosted their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $76.06.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total value of $69,952,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven M. Quirk sold 104,887 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the completion of the transaction, the insider directly owned 228,621 shares of the company's stock, valued at $16,035,476.94. This trade represents a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,472,702 shares of company stock worth $179,396,832 over the last 90 days. 14.47% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

Institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp grew its holdings in shares of Robinhood Markets by 1,631.5% during the fourth quarter. Jones Financial Companies Lllp now owns 3,463 shares of the company's stock worth $129,000 after purchasing an additional 3,263 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Robinhood Markets by 43.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 14,028 shares of the company's stock worth $523,000 after purchasing an additional 4,228 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Robinhood Markets by 87.6% during the fourth quarter. Victory Capital Management Inc. now owns 220,160 shares of the company's stock worth $8,203,000 after buying an additional 102,777 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Robinhood Markets during the fourth quarter worth about $2,367,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Robinhood Markets by 15.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 266,908 shares of the company's stock worth $9,945,000 after buying an additional 34,932 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Up 1.5%

The company has a 50 day simple moving average of $72.49 and a 200 day simple moving average of $54.91. The stock has a market capitalization of $88.72 billion, a PE ratio of 56.93, a P/E/G ratio of 4.77 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The company had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The company's revenue for the quarter was up 50.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 EPS. On average, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS 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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