Traders Purchase High Volume of Robinhood Markets Call Options (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD) saw unusually large options trading activity on Wednesday. Traders acquired 174,025 call options on the stock. This represents an increase of 44% compared to the average volume of 121,260 call options.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 98,404 shares of Robinhood Markets stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the transaction, the director now directly owns 2,521 shares in the company, valued at approximately $66,554.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 98,404 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the sale, the director now directly owns 2,521 shares of the company’s stock, valued at $66,554.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,639,654 shares of company stock worth $110,241,632. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Several hedge funds and other institutional investors have recently bought and sold shares of the business. HM Payson & Co. raised its position in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Eastern Bank bought a new stake in shares of Robinhood Markets during the 3rd quarter valued at $30,000. ORG Partners LLC acquired a new stake in shares of Robinhood Markets during the 2nd quarter worth $33,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Robinhood Markets in the third quarter worth $33,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

HOOD has been the topic of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research note on Thursday, August 8th. Bank of America boosted their target price on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Barclays raised their price target on shares of Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Citigroup boosted their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Hold” and a consensus target price of $24.97.

Robinhood Markets Trading Up 1.1 %

HOOD stock traded up $0.31 during mid-day trading on Wednesday, hitting $28.34. 12,185,085 shares of the company were exchanged, compared to its average volume of 15,327,907. Robinhood Markets has a 1-year low of $7.91 and a 1-year high of $28.55. The business has a 50 day simple moving average of $23.16 and a 200-day simple moving average of $21.29. The stock has a market capitalization of $25.07 billion, a PE ratio of 85.85 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. The business had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period last year, the firm posted $0.03 EPS. Equities research analysts expect that Robinhood Markets will post 0.74 earnings per share for the current year.

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.