Robinhood Markets (NASDAQ:HOOD) Trading 2.8% Higher on Analyst Upgrade

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) rose 2.8% during trading on Friday after Mizuho raised their price target on the stock from $60.00 to $65.00. Mizuho currently has an outperform rating on the stock. Robinhood Markets traded as high as $55.32 and last traded at $54.66. Approximately 9,338,200 shares were traded during trading, a decline of 53% from the average daily volume of 19,992,994 shares. The stock had previously closed at $53.17.

Other equities analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Morgan Stanley lifted their target price on Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Piper Sandler upped their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $20.00 to $43.00 in a research note on Tuesday, January 7th. Finally, Sanford C. Bernstein upped their price target on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.67.

Insider Activity

In related news, Director Baiju Bhatt sold 186,514 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total value of $7,111,778.82. Following the completion of the transaction, 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 SEC, which can be accessed through this hyperlink. Also, Director Meyer Malka sold 1,535,681 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total value 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 trade represents a 23.59 % decrease in their ownership of the stock. 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. Insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dorsey & Whitney Trust CO LLC lifted its holdings in Robinhood Markets by 2.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after buying an additional 233 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Robinhood Markets during the 4th quarter valued at $124,000. Edgestream Partners L.P. boosted its position in Robinhood Markets by 21.2% during the fourth quarter. Edgestream Partners L.P. now owns 149,684 shares of the company’s stock valued at $5,577,000 after purchasing an additional 26,181 shares during the last quarter. Chung Wu Investment Group LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter worth about $354,000. Finally, Vestmark Advisory Solutions Inc. increased its stake in Robinhood Markets by 23.6% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 451,577 shares of the company’s stock valued at $16,826,000 after acquiring an additional 86,186 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

The stock has a market capitalization of $48.37 billion, a P/E ratio of 92.70, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13. The firm has a 50 day moving average of $43.13 and a 200-day moving average of $30.91.

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.