Robinhood Markets (NASDAQ:HOOD) Stock Price Up 3.7% – What’s Next?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) shot up 3.7% during mid-day trading on Monday . The stock traded as high as $40.42 and last traded at $40.67. 13,146,263 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 33,109,984 shares. The stock had previously closed at $39.24.

Analyst Ratings Changes

HOOD has been the topic of several research analyst reports. Piper Sandler boosted their price objective on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Wolfe Research downgraded shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Keefe, Bruyette & Woods raised their price target on shares of Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Mizuho boosted their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Five 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 a consensus target price of $61.31.

Robinhood Markets Price Performance

The firm has a market capitalization of $35.51 billion, a PE ratio of 25.54, a P/E/G ratio of 1.05 and a beta of 2.14. The business’s 50 day moving average is $48.86 and its two-hundred day moving average is $36.90.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating 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%. Analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total value of $11,253,000.00. Following the completion of the sale, the insider now owns 806,955 shares of the company’s stock, valued at $30,268,882.05. The trade was a 27.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,985,127 shares of company stock worth $142,455,378 over the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its position in Robinhood Markets by 85.3% during the third quarter. Victory Capital Management Inc. now owns 117,383 shares of the company’s stock valued at $2,749,000 after buying an additional 54,046 shares during the period. CIBC Asset Management Inc increased its stake in shares of Robinhood Markets by 3.4% during the third quarter. CIBC Asset Management Inc now owns 21,731 shares of the company’s stock valued at $509,000 after buying an additional 724 shares during the period. Natixis Advisors LLC raised its holdings in shares of Robinhood Markets by 44.0% during the third quarter. Natixis Advisors LLC now owns 33,980 shares of the company’s stock valued at $796,000 after acquiring an additional 10,376 shares in the last quarter. Quest Partners LLC lifted its position in shares of Robinhood Markets by 1,008.4% in the 3rd quarter. Quest Partners LLC now owns 15,086 shares of the company’s stock worth $353,000 after purchasing an additional 13,725 shares during the period. Finally, GLOBALT Investments LLC GA lifted its holdings in Robinhood Markets by 2.3% in the third quarter. GLOBALT Investments LLC GA now owns 56,162 shares of the company’s stock worth $1,315,000 after buying an additional 1,262 shares during the period. 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.