Robinhood Markets (NASDAQ:HOOD) Shares Up 2% – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price shot up 2% on Thursday . The stock traded as high as $44.24 and last traded at $43.65. 15,512,162 shares were traded during mid-day trading, a decline of 25% from the average session volume of 20,803,884 shares. The stock had previously closed at $42.80.

Analyst Ratings Changes

Several brokerages have recently weighed in on HOOD. Piper Sandler upped their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Sanford C. Bernstein boosted their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Barclays increased their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Needham & Company LLC boosted their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Citigroup increased their price objective on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $61.29.

Robinhood Markets Price Performance

The firm has a market capitalization of $37.95 billion, a P/E ratio of 27.61, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The business has a 50 day moving average price of $48.90 and a 200 day moving average price of $36.94.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 228,645 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $40.37, for a total value of $9,230,398.65. Following the completion of the sale, the director now owns 5,042 shares in the company, valued at approximately $203,545.54. This trade represents a 97.84 % 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 Daniel Martin Gallagher, Jr. sold 300,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the transaction, the insider now owns 806,955 shares in the company, valued at $30,268,882.05. This represents a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,985,127 shares of company stock valued at $142,455,378 in the last ninety days. Company insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. Kilter Group LLC acquired a new position in shares of Robinhood Markets in the 4th quarter worth approximately $240,000. Siemens Fonds Invest GmbH bought a new stake in Robinhood Markets in the fourth quarter valued at $217,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Robinhood Markets during the fourth quarter worth $4,886,000. Employees Retirement System of Texas bought a new position in shares of Robinhood Markets during the fourth quarter valued at $1,609,000. Finally, Windmill Hill Asset Management Ltd acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at $493,000. Institutional investors own 93.27% of the company’s stock.

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.