Robinhood Markets Sees Unusually Large Options Volume (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD) was the recipient of some unusual options trading on Thursday. Stock traders acquired 238,973 call options on the stock. This is an increase of 35% compared to the average daily volume of 176,834 call options.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total transaction of $477,750.00. Following the completion of the transaction, the insider now directly owns 1,106,955 shares in the company, valued at approximately $42,307,820.10. This trade represents a 1.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Insiders sold 3,948,427 shares of company stock valued at $165,005,244 in the last ninety days. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HOOD. FMR LLC grew its stake in Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after buying an additional 26,107,934 shares during the last quarter. State Street Corp grew its position in shares of Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after purchasing an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Robinhood Markets by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock worth $455,464,000 after purchasing an additional 555,299 shares during the last quarter. Norges Bank bought a new stake in Robinhood Markets during the 4th quarter valued at approximately $329,598,000. Finally, GQG Partners LLC acquired a new stake in Robinhood Markets in the 4th quarter valued at approximately $302,325,000. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Trading Up 11.7 %

HOOD stock traded up $6.54 during midday trading on Thursday, reaching $62.45. The company had a trading volume of 46,124,030 shares, compared to its average volume of 22,632,260. The company has a 50 day moving average of $44.48 and a two-hundred day moving average of $31.90. The company has a market capitalization of $55.20 billion, a P/E ratio of 105.87, a PEG ratio of 0.73 and a beta of 2.13. Robinhood Markets has a 1 year low of $12.77 and a 1 year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. On average, sell-side analysts anticipate that Robinhood Markets will post 0.97 earnings per share for the current year.

Analyst Ratings Changes

HOOD has been the subject of a number of analyst reports. Mizuho boosted their price target on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Citigroup boosted their price objective on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Piper Sandler upped their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday. KeyCorp lifted their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.07.

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.