Christopher D. Payne Acquires 26,500 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) Director Christopher D. Payne purchased 26,500 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average price of $74.19 per share, with a total value of $1,966,035.00. Following the completion of the purchase, the director now directly owns 26,500 shares of the company’s stock, valued at approximately $1,966,035. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Robinhood Markets Trading Up 4.5%

HOOD opened at $78.35 on Thursday. The business’s 50 day moving average is $58.45 and its 200-day moving average is $49.46. The stock has a market cap of $69.38 billion, a PE ratio of 44.52, a price-to-earnings-growth ratio of 4.42 and a beta of 2.25. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $78.74.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The business’s quarterly revenue was up 50.0% on a year-over-year basis. During the same period last year, the firm posted $0.18 EPS. As a group, analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC raised its holdings in shares of Robinhood Markets by 548.5% during the first quarter. Voya Investment Management LLC now owns 622,190 shares of the company’s stock valued at $25,896,000 after buying an additional 526,245 shares during the last quarter. Cim LLC raised its holdings in shares of Robinhood Markets by 49.8% during the first quarter. Cim LLC now owns 81,911 shares of the company’s stock valued at $3,409,000 after buying an additional 27,230 shares during the last quarter. Silicon Valley Capital Partners raised its holdings in Robinhood Markets by 50.0% during the first quarter. Silicon Valley Capital Partners now owns 1,500 shares of the company’s stock worth $63,000 after purchasing an additional 500 shares in the last quarter. Strs Ohio bought a new stake in Robinhood Markets during the first quarter worth approximately $11,216,000. Finally, Acadian Asset Management LLC raised its holdings in Robinhood Markets by 293.6% during the first quarter. Acadian Asset Management LLC now owns 144,791 shares of the company’s stock worth $6,018,000 after purchasing an additional 108,001 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $70.00 price target on shares of Robinhood Markets in a research note on Thursday, May 1st. Citigroup decreased their price target on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Morgan Stanley lifted their price target on Robinhood Markets from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 13th. Cantor Fitzgerald decreased their price target on Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $58.00.

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.