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

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price gapped up prior to trading on Tuesday after Barclays raised their price target on the stock from $49.00 to $54.00. The stock had previously closed at $39.59, but opened at $41.80. Barclays currently has an overweight rating on the stock. Robinhood Markets shares last traded at $42.33, with a volume of 4,721,941 shares trading hands.

A number of other equities analysts have also issued reports on HOOD. JMP Securities upped their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. KeyCorp upped their target price on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods upped 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. Piper Sandler upped their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Finally, Citigroup upped their target price on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and a consensus price target of $42.47.

Insider Buying and Selling

In other news, Director Meyer Malka sold 1,535,681 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the completion of the sale, the director now owns 4,974,238 shares of the company’s stock, valued at $199,516,686.18. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $24.21, for a total transaction of $6,052,500.00. The disclosure for this sale can be found here. Insiders sold a total of 3,708,196 shares of company stock valued at $138,845,043 over the last ninety days. Insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently made changes to their positions in HOOD. Allspring Global Investments Holdings LLC increased its position in shares of Robinhood Markets by 1,211,858.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after acquiring an additional 3,817,355 shares in the last quarter. Azora Capital LP bought a new stake in shares of Robinhood Markets during the third quarter worth $79,780,000. FMR LLC increased its position in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after acquiring an additional 3,368,118 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after acquiring an additional 2,094,800 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after acquiring an additional 1,895,427 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Up 6.9 %

The company’s fifty day moving average is $37.30 and its 200 day moving average is $27.61. The firm has a market cap of $37.42 billion, a price-to-earnings ratio of 71.75, a PEG ratio of 0.81 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the previous year, the company posted ($0.09) EPS. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal 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.