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

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price was up 2.8% during mid-day 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.

HOOD has been the topic of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. KeyCorp boosted their target price on shares of Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. 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 report on Friday, December 6th. JMP Securities boosted their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. Finally, Sanford C. Bernstein boosted their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.67.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total transaction of $477,750.00. Following the sale, the insider now owns 1,106,955 shares of the company’s stock, valued at $42,307,820.10. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,857,561 shares of company stock worth $159,976,719. 19.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors have recently modified their holdings of the stock. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the fourth quarter worth $26,000. HM Payson & Co. raised its holdings 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 purchasing an additional 410 shares during the last quarter. Eastern Bank acquired a new stake in shares of Robinhood Markets during the 3rd quarter worth approximately $30,000. True Wealth Design LLC acquired a new stake in shares of Robinhood Markets during the 3rd quarter worth approximately $30,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Robinhood Markets during the 3rd quarter worth approximately $33,000. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Trading Up 5.1 %

The firm’s 50-day moving average is $43.49 and its 200-day moving average is $31.13. The firm has a market cap of $49.38 billion, a price-to-earnings ratio of 94.68, a P/E/G ratio of 0.70 and a beta of 2.13.

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.