Robinhood Markets (NASDAQ:HOOD) Trading Up 0.9% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price was up 0.9% during mid-day trading on Monday . The stock traded as high as $63.14 and last traded at $62.29. Approximately 13,101,065 shares changed hands during trading, a decline of 50% from the average daily volume of 26,242,244 shares. The stock had previously closed at $61.76.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HOOD shares. JPMorgan Chase & Co. upped their price target on Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price target on shares of Robinhood Markets in a report on Thursday, March 27th. Compass Point initiated coverage on Robinhood Markets in a report on Wednesday, March 19th. They set a “buy” rating and a $61.00 price target for the company. Mizuho upped their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, KeyCorp reduced their price objective on Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $55.41.

Robinhood Markets Stock Performance

The stock has a fifty day moving average of $46.35 and a 200 day moving average of $44.22. The company has a market capitalization of $57.27 billion, a PE ratio of 41.34, a PEG ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business had revenue of $927.00 million during the quarter, compared to analysts’ expectations of $917.12 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The firm’s revenue for the quarter was up 50.0% on a year-over-year basis. As a group, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 223,528 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $43.21, for a total transaction of $9,658,644.88. Following the sale, the director now owns 5,042 shares in the company, valued at approximately $217,864.82. This represents a 97.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the transaction, the chief technology officer now directly owns 17,559 shares in the company, valued at $821,936.79. This trade represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,897,622 shares of company stock valued at $86,956,156 in the last ninety days. Corporate insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MetLife Investment Management LLC raised its stake in Robinhood Markets by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock valued at $440,000 after buying an additional 171 shares during the last quarter. Cigna Investments Inc. New raised its stake in shares of Robinhood Markets by 2.7% in the first quarter. Cigna Investments Inc. New now owns 6,730 shares of the company’s stock worth $280,000 after purchasing an additional 174 shares during the last quarter. Hemington Wealth Management raised its stake in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 218 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after purchasing an additional 233 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Robinhood Markets by 4.0% in the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company’s stock worth $290,000 after purchasing an additional 265 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

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.