Robinhood Markets (NASDAQ:HOOD) Trading 2.3% Higher – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price rose 2.3% during trading on Monday . The company traded as high as $66.08 and last traded at $65.28. Approximately 39,248,779 shares changed hands during trading, an increase of 97% from the average daily volume of 19,924,428 shares. The stock had previously closed at $63.80.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of research analyst reports. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday. Piper Sandler lifted their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Morgan Stanley increased their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Raymond James started coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.53.

Robinhood Markets Trading Down 2.0 %

The business has a fifty day moving average price of $46.43 and a two-hundred day moving average price of $33.22. The firm has a market capitalization of $52.36 billion, a PE ratio of 37.73, a PEG ratio of 0.80 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.96%. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 522,180 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the sale, the director now directly owns 5,042 shares in the company, valued at $316,133.40. This represents a 99.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven M. Quirk sold 19,861 shares of the stock in a transaction dated Sunday, December 1st. The stock was sold at an average price of $37.54, for a total transaction of $745,581.94. Following the sale, the insider now directly owns 395,166 shares in the company, valued at $14,834,531.64. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,470,607 shares of company stock valued at $197,745,930 over the last quarter. 19.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds have recently added to or reduced their stakes in HOOD. FMR LLC raised its stake in shares of Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after acquiring an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC raised its position in Robinhood Markets by 1.1% in the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock valued at $900,159,000 after purchasing an additional 273,860 shares in the last quarter. State Street Corp boosted its stake in shares of Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after buying an additional 1,085,679 shares during the period. Geode Capital Management LLC lifted its stake in Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock worth $455,464,000 after acquiring an additional 555,299 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock worth $450,031,000 after purchasing an additional 3,091,514 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.