Robinhood Markets (NASDAQ:HOOD) Shares Up 0.6% on Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price was up 0.6% on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $54.00 to $64.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Robinhood Markets traded as high as $63.78 and last traded at $62.94. Approximately 13,771,236 shares were traded during trading, a decline of 48% from the average daily volume of 26,242,054 shares. The stock had previously closed at $62.57.

Several other brokerages have also weighed in on HOOD. Barclays decreased their price objective on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Morgan Stanley lifted their price objective on Robinhood Markets from $40.00 to $43.00 and gave the stock an “equal weight” rating in a report on Tuesday. Raymond James started coverage on Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating on the stock. Citigroup decreased their price objective on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $70.00 price target on shares of Robinhood Markets in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.41.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of Robinhood Markets stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total value of $3,038,500.00. Following the completion of the transaction, the insider now owns 706,642 shares of the company’s stock, valued at approximately $42,942,634.34. The trade was a 6.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,947,622 shares of company stock worth $89,994,656. 14.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares during the last quarter. FMR LLC increased its holdings in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC increased its holdings in Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock valued at $900,159,000 after purchasing an additional 273,860 shares during the last quarter. Geode Capital Management LLC increased its holdings in Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock valued at $455,464,000 after purchasing an additional 555,299 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after purchasing an additional 3,091,514 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Down 1.2%

The business has a fifty day moving average of $44.76 and a 200 day moving average of $43.31. The firm has a market cap of $53.73 billion, a P/E ratio of 38.65, a P/E/G ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The firm’s revenue was up 50.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

About Robinhood Markets

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.