Robinhood Markets (NASDAQ:HOOD) Shares Up 4.6% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD) shot up 4.6% during trading on Monday . The stock traded as high as $75.61 and last traded at $75.96. 10,347,541 shares were traded during trading, a decline of 62% from the average session volume of 27,330,413 shares. The stock had previously closed at $72.60.

Wall Street Analysts Forecast Growth

Several research firms have commented on HOOD. Compass Point began coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They set a “buy” rating and a $61.00 price target for the company. KeyCorp lowered their target price on shares of Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Cantor Fitzgerald reduced their price target on shares of Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Finally, The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $81.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.17.

Robinhood Markets Stock Performance

The stock’s fifty day moving average price is $56.22 and its 200-day moving average price is $48.81. The firm has a market cap of $67.56 billion, a PE ratio of 48.50, a P/E/G ratio of 1.05 and a beta of 2.25.

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

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $74.29, for a total transaction of $31,078,330.02. Following the completion of the transaction, the director now directly owns 7,863 shares in the company, valued at approximately $584,142.27. This trade represents a 98.16% 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 the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,650,974 shares of company stock worth $142,977,123. 14.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds have recently modified their holdings of the company. MetLife Investment Management LLC boosted its stake in shares of Robinhood Markets by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock worth $440,000 after purchasing an additional 171 shares during the last quarter. Cigna Investments Inc. New boosted its position in shares of Robinhood Markets by 2.7% in the first quarter. Cigna Investments Inc. New now owns 6,730 shares of the company’s stock worth $280,000 after acquiring an additional 174 shares during the last quarter. Hemington Wealth Management boosted its position in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 218 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in shares of Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after acquiring an additional 233 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Robinhood Markets by 4.0% in the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company’s stock worth $290,000 after acquiring an additional 265 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.