Christopher D. Payne Acquires 26,500 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) Director Christopher D. Payne acquired 26,500 shares of Robinhood Markets stock in a transaction dated Friday, June 13th. The shares were acquired at an average price of $74.19 per share, with a total value of $1,966,035.00. Following the completion of the transaction, the director now owns 26,500 shares of the company's stock, valued at approximately $1,966,035. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Robinhood Markets Trading Down 2.3%

HOOD stock traded down $1.80 on Tuesday, hitting $74.95. 26,551,033 shares of the company's stock traded hands, compared to its average volume of 27,440,704. The stock has a market cap of $66.37 billion, a price-to-earnings ratio of 59.50, a P/E/G ratio of 4.53 and a beta of 2.25. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $77.80. The stock has a fifty day moving average of $57.07 and a 200-day moving average of $49.08.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. Robinhood Markets's quarterly revenue was up 50.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 EPS. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on Robinhood Markets from $81.00 to $82.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Mizuho lifted their price objective on shares of Robinhood Markets from $65.00 to $80.00 and gave the company an "outperform" rating in a research note on Tuesday. Compass Point assumed coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective for the company. KeyCorp lowered their target price on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Barclays reduced their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus target price of $58.00.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the stock. MetLife Investment Management LLC increased its stake in Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after purchasing an additional 171 shares in the last quarter. Cigna Investments Inc. New boosted its holdings 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 buying an additional 174 shares during the period. Hemington Wealth Management increased its position 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 acquiring an additional 218 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after acquiring an additional 233 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of Robinhood Markets by 4.0% during the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock valued at $290,000 after acquiring an additional 265 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

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.

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