Robinhood Markets (NASDAQ:HOOD) Stock Price Up 2.8% on Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price was up 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 changed hands during trading, a decline of 53% from the average daily volume of 19,992,994 shares. The stock had previously closed at $53.17.

A number of other analysts have also weighed in on HOOD. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $20.00 to $43.00 in a research report on Tuesday, January 7th. KeyCorp lifted their price objective on Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Raymond James assumed coverage on Robinhood Markets in a report on Wednesday. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and a consensus price target of $46.67.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the transaction, the insider now owns 706,642 shares in the company, valued at approximately $36,462,727.20. This trade represents a 3.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 19,861 shares of the firm’s stock in a transaction on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the transaction, the insider now owns 395,166 shares in the company, valued at $14,834,531.64. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,857,561 shares of company stock worth $159,976,719. Insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets in the 4th quarter worth $26,000. HM Payson & Co. grew its holdings in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the period. Eastern Bank acquired a new position in Robinhood Markets during the third quarter valued at approximately $30,000. True Wealth Design LLC acquired a new position in Robinhood Markets during the third quarter valued at approximately $30,000. Finally, ORG Wealth Partners LLC acquired a new position in Robinhood Markets during the third quarter valued at approximately $33,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Up 2.9 %

The stock has a market cap of $48.37 billion, a price-to-earnings ratio of 92.70, a PEG ratio of 0.70 and a beta of 2.13. The stock’s fifty day moving average is $43.13 and its 200-day moving average is $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.