Robinhood Markets (NASDAQ:HOOD) Shares Up 0.3% – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price rose 0.3% during mid-day trading on Thursday . The stock traded as high as $41.57 and last traded at $40.78. Approximately 7,537,979 shares traded hands during trading, a decline of 69% from the average daily volume of 24,068,591 shares. The stock had previously closed at $40.66.

Analyst Ratings Changes

Several research firms have recently commented on HOOD. JMP Securities lowered their target price on Robinhood Markets from $77.00 to $70.00 and set a “market outperform” rating for the company in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Morgan Stanley cut shares of Robinhood Markets from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a research report on Tuesday, April 8th. Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price objective on the stock. Finally, Raymond James assumed coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating for the company. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $55.06.

Robinhood Markets Stock Performance

The stock has a market cap of $36.60 billion, a price-to-earnings ratio of 26.29, a P/E/G ratio of 1.05 and a beta of 2.17. The business has a 50-day simple moving average of $45.76 and a two-hundred day simple moving average of $39.79.

Robinhood Markets (NASDAQ:HOOD) last announced its 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 net margin of 47.81% and a return on equity of 13.53%. On average, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 500,000 shares of Robinhood Markets stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $50.77, for a total value of $25,385,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the transaction, the chief technology officer now owns 5,853 shares in the company, valued at $201,987.03. This represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,561,121 shares of company stock valued at $128,692,730. 19.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently bought and sold shares of the business. Whipplewood Advisors LLC boosted its stake in shares of Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after acquiring an additional 508 shares during the period. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets during the 4th quarter valued at $26,000. CoreCap Advisors LLC boosted its position in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV increased its holdings in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after purchasing an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC bought a new position in shares of Robinhood Markets in the fourth quarter valued at about $34,000. Institutional investors 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.