Robinhood Markets (NASDAQ:HOOD) Stock Price Up 1.4% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD) was up 1.4% on Wednesday . The stock traded as high as $53.66 and last traded at $53.33. Approximately 5,925,689 shares changed hands during trading, a decline of 71% from the average daily volume of 20,180,734 shares. The stock had previously closed at $52.58.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HOOD shares. JMP Securities upped their price target on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. Mizuho increased their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley increased their price objective on Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft increased their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Piper Sandler increased their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average target price of $46.67.

Robinhood Markets Stock Performance

The business has a 50-day simple moving average of $43.13 and a two-hundred day simple moving average of $30.91. The company has a market capitalization of $49.38 billion, a price-to-earnings ratio of 94.68, a PEG ratio of 0.70 and a beta of 2.13.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total value of $477,750.00. Following the completion of the sale, the insider now directly owns 1,106,955 shares of the company’s stock, valued at approximately $42,307,820.10. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,857,561 shares of company stock valued at $159,976,719 in the last ninety days. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently made changes to their positions in HOOD. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at $26,000. HM Payson & Co. boosted its holdings in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the last quarter. Eastern Bank acquired a new position in Robinhood Markets in the third quarter valued at $30,000. True Wealth Design LLC acquired a new position in Robinhood Markets in the third quarter valued at $30,000. Finally, ORG Wealth Partners LLC acquired a new position in Robinhood Markets in the third quarter valued at $33,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.