Robinhood Markets (NASDAQ:HOOD) Stock Price Up 1.3% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares traded up 1.3% on Monday . The company traded as high as $95.95 and last traded at $94.52. Approximately 11,836,227 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 28,730,578 shares. The stock had previously closed at $93.29.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HOOD shares. Barclays cut their price target on Robinhood Markets from $122.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Piper Sandler reaffirmed an “overweight” rating on shares of Robinhood Markets in a research report on Thursday, July 2nd. BTIG Research reaffirmed a “buy” rating and set a $125.00 target price on shares of Robinhood Markets in a research report on Thursday, July 30th. Mizuho raised their price objective on Robinhood Markets from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Finally, The Goldman Sachs Group decreased their target price on shares of Robinhood Markets from $137.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Twenty-one investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $120.52.

Robinhood Markets Price Performance

The company has a market capitalization of $84.98 billion, a price-to-earnings ratio of 41.64, a price-to-earnings-growth ratio of 1.83 and a beta of 2.35. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The stock’s 50-day moving average price is $99.17 and its 200-day moving average price is $86.66.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.44 by $0.18. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The business’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. Equities research analysts anticipate that Robinhood Markets, Inc. will post 2.02 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 67,422 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total transaction of $5,082,270.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 19,377 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $119.96, for a total transaction of $2,324,464.92. Following the completion of the transaction, the insider directly owned 62,612 shares of the company’s stock, valued at $7,510,935.52. This trade represents a 23.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have acquired 680,000 shares of company stock worth $55,306,560 and have sold 631,263 shares worth $66,929,157. Company insiders own 13.48% of the company’s stock.

Institutional Trading of Robinhood Markets

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Robinhood Markets by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company’s stock worth $10,831,756,000 after acquiring an additional 1,334,443 shares in the last quarter. State Street Corp raised its holdings in Robinhood Markets by 2.7% during the fourth quarter. State Street Corp now owns 33,121,452 shares of the company’s stock worth $3,746,036,000 after acquiring an additional 875,297 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Robinhood Markets by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock worth $2,386,944,000 after purchasing an additional 356,902 shares in the last quarter. Morgan Stanley lifted its stake in Robinhood Markets by 23.9% in the fourth quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock valued at $1,208,335,000 after acquiring an additional 2,061,832 shares during the last quarter. Finally, Norges Bank bought a new position in Robinhood Markets during the fourth quarter worth about $1,202,160,000. 93.27% of the stock is owned by institutional investors.

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.