Robinhood Markets (NASDAQ:HOOD) Stock Price Up 5.4% After Analyst Upgrade

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) were up 5.4% during trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $44.00 to $47.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Robinhood Markets traded as high as $50.07 and last traded at $49.13. Approximately 24,476,410 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 25,545,971 shares. The stock had previously closed at $46.62.

A number of other equities research analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Barclays cut their price objective on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Piper Sandler upped their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.24.

Insider Activity at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the sale, the insider now directly owns 706,642 shares of the company’s stock, valued at $36,462,727.20. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the transaction, the director now owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. This represents a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,334,593 shares of company stock worth $114,815,021 over the last quarter. Insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC raised its holdings in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after purchasing an additional 508 shares during the period. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets during the 4th quarter valued at approximately $26,000. Wayfinding Financial LLC purchased a new position in shares of Robinhood Markets during the 1st quarter valued at approximately $30,000. CoreCap Advisors LLC grew its stake in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after acquiring an additional 550 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its holdings in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Up 4.2 %

The stock’s 50-day simple moving average is $43.08 and its two-hundred day simple moving average is $41.66. The company has a market capitalization of $43.02 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million for the quarter, compared to analysts’ expectations of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Robinhood Markets’s quarterly revenue was up 50.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. On average, sell-side analysts forecast 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.