Robinhood Markets (NASDAQ:HOOD) Trading 12.3% Higher – What’s Next?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) rose 12.3% during trading on Monday . The company traded as high as $136.84 and last traded at $136.72. Approximately 61,595,729 shares traded hands during mid-day trading, an increase of 46% from the average daily volume of 42,242,535 shares. The stock had previously closed at $121.78.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Redburn Atlantic reiterated a “sell” rating and issued a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. KeyCorp boosted their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Barclays upped their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Finally, Morgan Stanley lifted their target price on Robinhood Markets from $43.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.06.

Robinhood Markets Price Performance

The company has a market capitalization of $121.50 billion, a price-to-earnings ratio of 69.40, a PEG ratio of 4.34 and a beta of 2.36. The firm has a 50-day moving average price of $110.49 and a two-hundred day moving average price of $79.34.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business’s revenue was up 45.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 EPS. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total transaction of $69,952,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.97, for a total value of $22,493,250.00. Following the completion of the transaction, the insider owned 591,887 shares of the company’s stock, valued at approximately $59,170,943.39. This represents a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,681,462 shares of company stock valued at $581,726,917. Corporate insiders own 14.47% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. raised its stake in Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after buying an additional 148 shares during the period. Smithfield Trust Co acquired a new position in shares of Robinhood Markets during the 2nd quarter worth approximately $29,000. Twin Peaks Wealth Advisors LLC bought a new stake in Robinhood Markets in the 2nd quarter valued at $34,000. V Square Quantitative Management LLC acquired a new stake in Robinhood Markets during the 2nd quarter valued at $36,000. Finally, LGT Financial Advisors LLC bought a new position in Robinhood Markets during the second quarter worth $37,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.