Robinhood Markets (NASDAQ:HOOD) Trading 2.3% Higher – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price was up 2.3% during mid-day trading on Monday . The stock traded as high as $66.08 and last traded at $65.28. Approximately 39,248,779 shares changed hands during trading, an increase of 97% from the average daily volume of 19,924,428 shares. The stock had previously closed at $63.80.

Analyst Ratings Changes

A number of research firms recently commented on HOOD. Barclays increased their price target on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday. Mizuho increased their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. boosted their target price on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday. Piper Sandler increased their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.07.

Robinhood Markets Price Performance

The company has a market cap of $57.71 billion, a P/E ratio of 110.65, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. The company has a 50 day moving average of $45.45 and a 200-day moving average of $32.60.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. Research analysts anticipate that Robinhood Markets, Inc. will post 0.97 EPS for the current year.

Insider Activity

In other news, Director Meyer Malka sold 1,535,681 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the completion of the transaction, the director now directly owns 4,974,238 shares of the company’s stock, valued at approximately $199,516,686.18. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,948,427 shares of company stock valued at $165,005,244. 19.95% of the stock is currently owned by company insiders.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets in the 4th quarter worth about $26,000. HM Payson & Co. raised its stake in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 410 shares in the last quarter. Eastern Bank purchased a new stake in Robinhood Markets in the third quarter worth about $30,000. True Wealth Design LLC bought a new stake in Robinhood Markets during the 3rd quarter valued at approximately $30,000. Finally, CoreCap Advisors LLC boosted its position in Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after acquiring an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.