Robinhood Markets (NASDAQ:HOOD) Trading Up 2.3% – Here’s Why

Robinhood Markets, Inc. (NASDAQ:HOOD) was up 2.3% on Monday . The company traded as high as $73.60 and last traded at $72.49. Approximately 25,982,230 shares traded hands during trading, a decline of 12% from the average daily volume of 29,578,816 shares. The stock had previously closed at $70.89.

Analysts Set New Price Targets

A number of brokerages have issued reports on HOOD. Mizuho cut their target price on Robinhood Markets from $135.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, March 13th. The Goldman Sachs Group lowered their price target on shares of Robinhood Markets from $152.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Argus started coverage on shares of Robinhood Markets in a report on Friday, January 9th. They issued a “buy” rating and a $145.00 price objective for the company. Bank of America cut their price objective on shares of Robinhood Markets from $166.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Finally, Needham & Company LLC reduced their target price on shares of Robinhood Markets from $135.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. Seventeen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.59.

Robinhood Markets Stock Performance

The company has a 50 day moving average price of $86.93 and a 200 day moving average price of $112.87. The firm has a market cap of $65.26 billion, a price-to-earnings ratio of 35.19, a price-to-earnings-growth ratio of 1.60 and a beta of 2.47.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.32 billion. Robinhood Markets had a return on equity of 22.32% and a net margin of 42.10%.The company’s quarterly revenue was up 26.5% on a year-over-year basis. During the same period last year, the company earned $1.01 EPS. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $107.48, for a total value of $630,262.72. Following the transaction, the chief technology officer directly owned 9,133 shares in the company, valued at approximately $981,614.84. This represents a 39.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 52,540 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $87.81, for a total transaction of $4,613,537.40. Following the transaction, the insider directly owned 27,564 shares of the company’s stock, valued at $2,420,394.84. The trade was a 65.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 469,268 shares of company stock worth $54,409,454. 19.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HOOD. Empowered Funds LLC grew its stake in shares of Robinhood Markets by 46.7% in the first quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock valued at $2,076,000 after buying an additional 15,885 shares in the last quarter. Wealthspire Advisors LLC acquired a new position in Robinhood Markets during the 2nd quarter worth about $234,000. Handelsbanken Fonder AB boosted its holdings in Robinhood Markets by 66.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 226,197 shares of the company’s stock valued at $21,179,000 after acquiring an additional 90,497 shares during the period. Personal CFO Solutions LLC acquired a new position in Robinhood Markets in the 2nd quarter valued at about $330,000. Finally, DNB Asset Management AS grew its position in Robinhood Markets by 27.0% in the 2nd quarter. DNB Asset Management AS now owns 133,985 shares of the company’s stock valued at $12,545,000 after acquiring an additional 28,482 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.