Robinhood Markets (NASDAQ:HOOD) Trading Up 8.4% – Here’s Why

Robinhood Markets, Inc. (NASDAQ:HOOD) rose 8.4% during mid-day trading on Monday . The company traded as high as $48.99 and last traded at $48.08. Approximately 23,215,045 shares changed hands during mid-day trading, an increase of 10% from the average daily volume of 21,111,482 shares. The stock had previously closed at $44.36.

Analysts Set New Price Targets

HOOD has been the subject of several research reports. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Barclays lifted their price target on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. KeyCorp increased their price objective on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Citigroup raised their price objective on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC upped their target price on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

Robinhood Markets Price Performance

The business’s fifty day simple moving average is $49.35 and its two-hundred day simple moving average is $37.82. The company has a market cap of $42.63 billion, a PE ratio of 30.67, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results 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 return on equity of 13.53% and a net margin of 47.81%. As a group, analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the sale, the chief technology officer now owns 17,559 shares in the company, valued at $821,936.79. This trade represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,908,632 shares of company stock valued at $140,891,991 in the last three months. 19.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently bought and sold shares of the company. Toronto Dominion Bank lifted its position in shares of Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after acquiring an additional 16,219 shares in the last quarter. IFP Advisors Inc boosted its stake in Robinhood Markets by 601.1% during the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock worth $164,000 after purchasing an additional 3,769 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Robinhood Markets during the fourth quarter worth $634,000. Charles Schwab Investment Management Inc. raised its position in shares of Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after buying an additional 138,267 shares during the last quarter. Finally, Atomi Financial Group Inc. raised its position in shares of Robinhood Markets by 20.7% in the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after buying an additional 92,613 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.