Robinhood Markets (NASDAQ:HOOD) Trading 3.9% Higher – Here’s Why

Robinhood Markets, Inc. (NASDAQ:HOOD) shares shot up 3.9% on Monday . The stock traded as high as $79.54 and last traded at $78.78. 26,529,243 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 30,499,830 shares. The stock had previously closed at $75.85.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wolfe Research upgraded shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective for the company in a research report on Monday, February 9th. Barclays lowered their price target on shares of Robinhood Markets from $159.00 to $124.00 and set an “overweight” rating for the company in a report on Wednesday, February 11th. Loop Capital set a $130.00 price objective on Robinhood Markets in a research note on Monday, February 9th. Morgan Stanley upped their price objective on Robinhood Markets from $146.00 to $147.00 and gave the company an “equal weight” rating in a research report on Monday, December 22nd. Finally, KeyCorp dropped their target price on Robinhood Markets from $160.00 to $130.00 and set an “overweight” rating for the company in a report on Monday, February 9th. Seventeen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.71.

Robinhood Markets Stock Performance

The company has a market cap of $70.93 billion, a P/E ratio of 38.24, a price-to-earnings-growth ratio of 1.53 and a beta of 2.47. The business’s fifty day moving average is $99.23 and its two-hundred day moving average is $116.03.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Tuesday, February 10th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. Robinhood Markets had a net margin of 42.10% and a return on equity of 22.32%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company posted $1.01 earnings per share. The company’s quarterly revenue was up 26.5% compared to the same quarter last year. Analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $87.07, for a total value of $870,700.00. Following the completion of the sale, the insider directly owned 393,612 shares in the company, valued at approximately $34,271,796.84. This represents a 2.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction on Monday, January 26th. The stock was 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 $981,614.84. The trade was a 39.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 640,939 shares of company stock valued at $77,553,447. Company insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Robinhood Markets by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company’s stock valued at $10,831,756,000 after buying an additional 1,334,443 shares during the period. State Street Corp boosted its position in Robinhood Markets by 2.7% during the 4th quarter. State Street Corp now owns 33,121,452 shares of the company’s stock valued at $3,746,036,000 after acquiring an additional 875,297 shares in the last quarter. Geode Capital Management LLC boosted its position in Robinhood Markets by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock valued at $2,386,944,000 after acquiring an additional 356,902 shares in the last quarter. Morgan Stanley increased its holdings in shares of Robinhood Markets by 23.9% in the 4th 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 period. Finally, Norges Bank bought a new position in shares of Robinhood Markets in the 4th quarter worth $1,202,160,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.