Robinhood Markets (NASDAQ:HOOD) Trading 0.4% Higher – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD) traded up 0.4% during mid-day trading on Tuesday . The stock traded as high as $65.28 and last traded at $64.55. 12,506,814 shares changed hands during trading, a decline of 52% from the average session volume of 26,271,336 shares. The stock had previously closed at $64.27.

Analyst Ratings Changes

A number of analysts have issued reports on HOOD shares. JPMorgan Chase & Co. boosted their target price on Robinhood Markets from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Barclays lowered their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $54.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Piper Sandler raised their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $70.00 price target on shares of Robinhood Markets in a research report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.41.

Robinhood Markets Stock Performance

The firm has a market cap of $57.55 billion, a P/E ratio of 41.23, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. The stock has a fifty day simple moving average of $45.78 and a 200 day simple moving average of $44.07.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The company had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same quarter in the prior year, the company posted $0.18 EPS. Robinhood Markets’s revenue was up 50.0% on a year-over-year basis. Research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the sale, the chief technology officer now directly owns 17,559 shares in the company, valued at approximately $821,936.79. The trade was a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 123,272 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the completion of the transaction, the insider now directly owns 298,826 shares of the company’s stock, valued at approximately $16,674,490.80. This trade represents a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,897,622 shares of company stock worth $86,956,156 in the last three months. Company insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently added to or reduced their stakes in HOOD. IFP Advisors Inc raised its stake in Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock valued at $164,000 after buying an additional 3,769 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after purchasing an additional 138,267 shares in the last quarter. Atomi Financial Group Inc. boosted its position in Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after purchasing an additional 92,613 shares in the last quarter. Requisite Capital Management LLC acquired a new position in shares of Robinhood Markets during the 4th quarter worth approximately $266,000. Finally, Aigen Investment Management LP raised its position in Robinhood Markets by 161.2% during the fourth quarter. Aigen Investment Management LP now owns 85,868 shares of the company’s stock worth $3,199,000 after acquiring an additional 52,988 shares during the period. 93.27% of the stock is currently owned by institutional investors.

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.