Robinhood Markets (NASDAQ:HOOD) Trading Up 2.3% – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD) rose 2.3% on Monday . The company traded as high as $66.08 and last traded at $65.28. Approximately 39,248,779 shares traded hands during trading, an increase of 97% from the average daily volume of 19,924,428 shares. The stock had previously closed at $63.80.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Raymond James began coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Morgan Stanley boosted their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Citigroup upped their price target on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $59.53.

Robinhood Markets Stock Performance

The company has a market cap of $52.36 billion, a price-to-earnings ratio of 37.73, a P/E/G ratio of 0.80 and a beta of 2.13. The company’s fifty day moving average is $46.43 and its two-hundred day moving average is $33.22.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.96%. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.3 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 1,535,681 shares of Robinhood Markets stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total value of $61,596,164.91. Following the completion of the transaction, the director now owns 4,974,238 shares of the company’s stock, valued at approximately $199,516,686.18. The trade was a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total transaction of $477,750.00. Following the sale, the insider now directly owns 1,106,955 shares in the company, valued at approximately $42,307,820.10. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,470,607 shares of company stock worth $197,745,930. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently bought and sold shares of the business. New Wave Wealth Advisors LLC acquired a new position in shares of Robinhood Markets during the 4th quarter worth approximately $26,000. HM Payson & Co. raised its position in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares during the period. Eastern Bank acquired a new position in Robinhood Markets during the third quarter worth $30,000. True Wealth Design LLC purchased a new position in Robinhood Markets during the third quarter valued at $30,000. Finally, CoreCap Advisors LLC grew its position in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after purchasing an additional 550 shares during the period. 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.