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

Robinhood Markets, Inc. (NASDAQ:HOOD) gapped up prior to trading on Wednesday after Sanford C. Bernstein raised their price target on the stock from $30.00 to $51.00. The stock had previously closed at $35.24, but opened at $37.00. Sanford C. Bernstein currently has an outperform rating on the stock. Robinhood Markets shares last traded at $36.67, with a volume of 11,851,550 shares traded.

A number of other equities analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JMP Securities increased 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. Keefe, Bruyette & Woods reduced their price target on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. KeyCorp increased their price objective on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group reduced their target price on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.66.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total transaction of $4,815,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jason Warnick sold 25,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $20.96, for a total transaction of $524,000.00. Following the transaction, the chief financial officer now directly owns 1,077,162 shares in the company, valued at $22,577,315.52. The trade was a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,710,549 shares of company stock valued at $115,477,194 in the last three months. 19.95% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

Several hedge funds have recently bought and sold shares of the stock. HM Payson & Co. lifted its position in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 410 shares in the last quarter. Eastern Bank bought a new stake in Robinhood Markets during the third quarter worth about $30,000. True Wealth Design LLC acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at approximately $30,000. ORG Partners LLC acquired a new stake in Robinhood Markets in the second quarter valued at $33,000. Finally, ORG Wealth Partners LLC acquired a new stake in Robinhood Markets in the 3rd quarter valued at about $33,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Trading Up 2.4 %

The company has a 50 day moving average price of $26.39 and a 200 day moving average price of $22.71. The company has a market capitalization of $31.89 billion, a P/E ratio of 61.15, a P/E/G ratio of 0.77 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same quarter last year, the firm earned ($0.09) earnings per share. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 0.72 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.