Robinhood Markets (NASDAQ:HOOD) Trading Up 8.2%

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shot up 8.2% on Tuesday . The company traded as high as $18.39 and last traded at $18.28. 7,137,762 shares changed hands during trading, a decline of 51% from the average session volume of 14,644,926 shares. The stock had previously closed at $16.89.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JMP Securities boosted their price objective on shares of Robinhood Markets from $28.00 to $30.00 and gave the company a "market outperform" rating in a report on Thursday, May 9th. KeyCorp increased their target price on Robinhood Markets from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Monday, April 22nd. Barclays lifted their target price on Robinhood Markets from $16.00 to $18.00 and gave the company an "underweight" rating in a research report on Thursday, May 9th. The Goldman Sachs Group increased their price target on shares of Robinhood Markets from $18.00 to $20.00 and gave the stock a "neutral" rating in a research report on Monday, April 15th. Finally, Morgan Stanley lifted their price objective on shares of Robinhood Markets from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of "Hold" and a consensus target price of $19.42.

Robinhood Markets Trading Up 6.7 %

The company has a market capitalization of $15.76 billion, a P/E ratio of 119.40 and a beta of 1.74. The stock's 50-day moving average price is $17.83 and its 200-day moving average price is $13.59.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.13. The firm had revenue of $618.00 million during the quarter, compared to analyst estimates of $552.74 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. Robinhood Markets's revenue was up 40.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.57) EPS. Sell-side analysts expect that Robinhood Markets, Inc. will post 0.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $16.47, for a total value of $82,350.00. Following the completion of the sale, the chief financial officer now directly owns 971,497 shares in the company, valued at $16,000,555.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Jason Warnick sold 5,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.47, for a total value of $82,350.00. Following the completion of the sale, the chief financial officer now owns 971,497 shares in the company, valued at $16,000,555.59. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the business's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $18.67, for a total value of $4,667,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,408,026 shares of company stock worth $38,867,267. 20.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James & Associates grew its holdings in shares of Robinhood Markets by 7.0% in the 3rd quarter. Raymond James & Associates now owns 31,847 shares of the company's stock valued at $312,000 after acquiring an additional 2,070 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Robinhood Markets by 33.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 16,647 shares of the company's stock valued at $163,000 after acquiring an additional 4,163 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Robinhood Markets by 15.5% in the third quarter. Bank of New York Mellon Corp now owns 2,419,817 shares of the company's stock valued at $23,738,000 after acquiring an additional 325,506 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Robinhood Markets by 6,764.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,635 shares of the company's stock valued at $624,000 after acquiring an additional 62,708 shares during the last quarter. Finally, TD Asset Management Inc bought a new stake in shares of Robinhood Markets during the 3rd quarter valued at about $299,000. 93.27% of the stock is owned by institutional investors.

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.