Robinhood Markets (NASDAQ:HOOD) Stock Price Up 8.3% After Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price shot up 8.3% during mid-day trading on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $105.00 to $113.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Robinhood Markets traded as high as $109.53 and last traded at $108.65. 27,871,370 shares changed hands during trading, a decline of 8% from the average daily volume of 30,418,727 shares. The stock had previously closed at $100.28.

A number of other research firms have also weighed in on HOOD. Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday, June 24th. Truist Financial lowered their price target on shares of Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, April 13th. The Goldman Sachs Group upped their price target on Robinhood Markets from $108.00 to $121.00 and gave the company a “buy” rating in a research report on Monday. Citizens Jmp restated a “market outperform” rating and set a $155.00 target price on shares of Robinhood Markets in a report on Thursday, May 28th. Finally, BTIG Research initiated coverage on shares of Robinhood Markets in a research note on Friday, June 26th. They set a “buy” rating and a $125.00 price objective for the company. Twenty research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.35.

Insider Buying and Selling at Robinhood Markets

In other news, CFO Shiv Verma sold 3,984 shares of Robinhood Markets stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $98.84, for a total transaction of $393,778.56. Following the transaction, the chief financial officer directly owned 59,927 shares of the company’s stock, valued at $5,923,184.68. The trade was a 6.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka acquired 250,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $80.74 per share, with a total value of $20,185,000.00. Following the completion of the purchase, the director owned 3,924,427 shares in the company, valued at $316,858,235.98. This trade represents a 6.80% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 680,000 shares of company stock valued at $55,306,560 and have sold 633,484 shares valued at $47,542,923. Company insiders own 19.95% of the company’s stock.

Key Robinhood Markets News

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Robinhood continued its crypto push, signaling that digital assets remain a major growth driver for the platform. Robinhood Continues Crypto Push
• Positive Sentiment: The company rolled out a public blockchain and is expanding deeper into crypto, which could broaden Robinhood’s product set and strengthen its long-term position in digital finance. Robinhood rolls out public blockchain as it expands deeper into crypto
• Positive Sentiment: Robinhood unveiled new AI crypto trading tools for U.S. users, plus perpetual futures in Europe and expansion plans in Canada and Singapore, reinforcing the company’s “super app” and global-growth narrative. Robinhood Accelerates International Push. What It Is Launching in Europe, Canada, and Singapore.
• Positive Sentiment: Deutsche Bank raised its price target on HOOD to $113 and kept a buy rating, highlighting continued confidence in the stock’s upside potential. Deutsche Bank price target raise
• Neutral Sentiment: Recent articles noting Robinhood’s strong second-quarter stock performance may be supporting sentiment, but they do not appear to add new company-specific catalysts. 3 Finance Stocks That Stole the Spotlight With Strong Q2 Gains
• Negative Sentiment: Some coverage continues to point to weak core earnings and valuation concerns, which could temper enthusiasm if growth initiatives do not translate into stronger fundamentals. Robinhood Markets (HOOD) Fell on Weak Core Earnings

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently modified their holdings of HOOD. Evolution Wealth Advisors LLC raised its position in shares of Robinhood Markets by 5.2% during the 4th quarter. Evolution Wealth Advisors LLC now owns 1,916 shares of the company’s stock valued at $217,000 after purchasing an additional 95 shares during the period. CogentBlue Wealth Advisors LLC grew its stake in Robinhood Markets by 4.1% during the fourth quarter. CogentBlue Wealth Advisors LLC now owns 2,489 shares of the company’s stock valued at $282,000 after acquiring an additional 98 shares in the last quarter. SOA Wealth Advisors LLC. increased its holdings in shares of Robinhood Markets by 11.5% in the fourth quarter. SOA Wealth Advisors LLC. now owns 968 shares of the company’s stock worth $109,000 after purchasing an additional 100 shares during the last quarter. Barnes Dennig Private Wealth Management LLC raised its holdings in shares of Robinhood Markets by 10.2% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 1,210 shares of the company’s stock worth $137,000 after acquiring an additional 112 shares in the last quarter. Finally, Bogart Wealth LLC lifted its position in Robinhood Markets by 8.5% during the fourth quarter. Bogart Wealth LLC now owns 1,463 shares of the company’s stock valued at $165,000 after purchasing an additional 114 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Up 8.3%

The company has a 50 day simple moving average of $86.34 and a two-hundred day simple moving average of $89.60. The company has a market capitalization of $97.84 billion, a P/E ratio of 52.49, a PEG ratio of 2.39 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the business earned $0.37 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, research analysts expect that Robinhood Markets, Inc. will post 1.81 EPS for the current fiscal year.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.