Robinhood Markets Target of Unusually Large Options Trading (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD) saw some unusual options trading activity on Tuesday. Traders purchased 212,695 call options on the company. This represents an increase of approximately 67% compared to the typical daily volume of 127,528 call options.

Robinhood Markets Trading Up 0.2 %

Shares of HOOD opened at $25.65 on Thursday. The business’s 50-day moving average price is $20.81 and its 200 day moving average price is $20.50. The stock has a market capitalization of $22.54 billion, a P/E ratio of 171.00 and a beta of 1.84. Robinhood Markets has a 1-year low of $7.91 and a 1-year high of $25.80.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. The business had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. Robinhood Markets’s revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. On average, research analysts predict that Robinhood Markets will post 0.76 earnings per share for the current year.

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason Warnick sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $20.96, for a total value of $524,000.00. Following the sale, the chief financial officer now directly owns 1,077,162 shares in the company, valued at approximately $22,577,315.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,227,389 shares of company stock worth $24,238,940 over the last 90 days. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Robinhood Markets by 1.8% in the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after purchasing an additional 1,003,535 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Robinhood Markets by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after buying an additional 2,094,800 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Robinhood Markets by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock valued at $92,549,000 after buying an additional 112,967 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Robinhood Markets by 8.7% in the second quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company’s stock worth $54,749,000 after buying an additional 193,585 shares during the last quarter. Finally, Railway Pension Investments Ltd raised its position in Robinhood Markets by 52.6% during the first quarter. Railway Pension Investments Ltd now owns 2,393,031 shares of the company’s stock valued at $48,172,000 after acquiring an additional 825,307 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HOOD shares. Piper Sandler reiterated an “overweight” rating and set a $27.00 price target on shares of Robinhood Markets in a research report on Tuesday. Barclays boosted their target price on shares of Robinhood Markets from $20.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their price objective on shares of Robinhood Markets from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Finally, KeyCorp raised their target price on shares of Robinhood Markets from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.83.

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.