Robinhood Markets (NASDAQ:HOOD) Stock Price Up 3.6% – Here’s Why

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price shot up 3.6% during mid-day trading on Tuesday . The stock traded as high as $120.70 and last traded at $119.40. 20,858,236 shares were traded during mid-day trading, a decline of 47% from the average session volume of 39,118,715 shares. The stock had previously closed at $115.26.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HOOD. Loop Capital set a $152.00 target price on shares of Robinhood Markets in a research note on Thursday, December 11th. Citizens Jmp boosted their price objective on shares of Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, November 7th. Dbs Bank raised Robinhood Markets to a “moderate buy” rating in a research report on Wednesday, November 12th. Barclays lifted their target price on Robinhood Markets from $168.00 to $171.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a research note on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus target price of $136.32.

Robinhood Markets Stock Performance

The stock has a market capitalization of $107.36 billion, a P/E ratio of 49.54, a PEG ratio of 2.40 and a beta of 2.43. The firm has a fifty day moving average price of $131.46 and a two-hundred day moving average price of $112.74.

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

Insider Buying and Selling at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $132.26, for a total value of $775,704.90. Following the transaction, the chief technology officer owned 26,725 shares in the company, valued at $3,534,648.50. This represents a 18.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $116.56, for a total transaction of $48,761,477.28. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,686,763 shares of company stock worth $475,858,262 over the last 90 days. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC boosted its holdings in Robinhood Markets by 6.4% in the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock worth $2,092,000 after buying an additional 3,032 shares during the period. Wellington Management Group LLP lifted its position in shares of Robinhood Markets by 3.1% in the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock valued at $677,000 after acquiring an additional 486 shares in the last quarter. Metavasi Capital LP boosted its stake in shares of Robinhood Markets by 275.0% in the first quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock worth $3,122,000 after acquiring an additional 55,000 shares during the period. Venture Visionary Partners LLC boosted its stake in shares of Robinhood Markets by 63.0% in the second quarter. Venture Visionary Partners LLC now owns 125,420 shares of the company’s stock worth $11,743,000 after acquiring an additional 48,494 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of Robinhood Markets by 114.8% during the first quarter. Canada Pension Plan Investment Board now owns 369,900 shares of the company’s stock worth $15,395,000 after purchasing an additional 197,673 shares in the last quarter. 93.27% of the stock is owned by 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.