Robinhood Markets (NASDAQ:HOOD) Shares Up 1.2% After Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price was up 1.2% on Friday after Citigroup raised their price target on the stock from $45.00 to $60.00. Citigroup currently has a neutral rating on the stock. Robinhood Markets traded as high as $66.08 and last traded at $64.58. Approximately 16,103,435 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 23,416,344 shares. The stock had previously closed at $63.80.

Several other research analysts also recently weighed in on HOOD. Needham & Company LLC lifted their target price on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday. Keefe, Bruyette & Woods lifted their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. KeyCorp lifted their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday. Barclays lifted their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Raymond James started coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They issued a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.07.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 186,514 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82. Following the sale, the director now owns 2,521 shares of the company’s stock, valued at approximately $96,125.73. This represents a 98.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Quirk sold 19,861 shares of the company’s stock in a transaction dated Sunday, December 1st. The stock was sold at an average price of $37.54, for a total transaction of $745,581.94. Following the completion of the sale, the insider now directly owns 395,166 shares in the company, valued at approximately $14,834,531.64. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,948,427 shares of company stock valued at $165,005,244 in the last 90 days. 19.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank grew its holdings in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after acquiring an additional 16,219 shares during the last quarter. Everence Capital Management Inc. bought a new stake in Robinhood Markets during the 4th quarter worth about $634,000. Atomi Financial Group Inc. grew its holdings in Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after acquiring an additional 92,613 shares during the last quarter. Requisite Capital Management LLC bought a new stake in Robinhood Markets during the 4th quarter worth about $266,000. Finally, Baker Avenue Asset Management LP grew its holdings in Robinhood Markets by 77.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after acquiring an additional 203,354 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Up 1.2 %

The business’s fifty day simple moving average is $44.98 and its 200 day simple moving average is $32.13. The stock has a market cap of $57.10 billion, a P/E ratio of 109.39, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. On average, analysts predict that Robinhood Markets, Inc. will post 0.97 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.