Robinhood Markets (NASDAQ:HOOD) Shares Up 2.3% – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price was up 2.3% during mid-day trading on Tuesday . The stock traded as high as $120.43 and last traded at $120.24. Approximately 19,477,467 shares traded hands during trading, a decline of 6% from the average daily volume of 20,755,727 shares. The stock had previously closed at $117.52.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HOOD shares. Truist Financial started coverage on shares of Robinhood Markets in a report on Wednesday, December 17th. They issued a “buy” rating and a $155.00 target price on the stock. Zacks Research lowered shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Barclays decreased their price objective on shares of Robinhood Markets from $171.00 to $159.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Mizuho raised their price objective on shares of Robinhood Markets from $145.00 to $172.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.62.

Robinhood Markets Price Performance

The stock’s 50 day simple moving average is $122.72 and its two-hundred day simple moving average is $118.76. The company has a market capitalization of $108.12 billion, a P/E ratio of 49.89, a P/E/G ratio of 1.75 and a beta of 2.44.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $0.17 earnings per share. Robinhood Markets’s revenue for the quarter was up 100.0% compared to the same quarter last year. As a group, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $121.59, for a total value of $713,003.76. Following the completion of the sale, the chief technology officer directly owned 14,997 shares in the company, valued at $1,823,485.23. This trade represents a 28.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 375,000 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $121.63, for a total value of $45,611,250.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,296,763 shares of company stock valued at $414,016,996 over the last quarter. 19.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Several large investors have recently bought and sold shares of HOOD. Valley National Advisers Inc. boosted its holdings in Robinhood Markets by 113.6% during the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of Robinhood Markets by 107.6% in the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after acquiring an additional 99 shares during the period. Vision Financial Markets LLC raised its position in shares of Robinhood Markets by 100.0% in the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock valued at $29,000 after acquiring an additional 100 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Robinhood Markets during the 3rd quarter worth approximately $29,000. Finally, Guerra Advisors Inc acquired a new position in Robinhood Markets during the third quarter valued at approximately $30,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

About Robinhood Markets

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.