Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $105.45, but opened at $109.75. Robinhood Markets shares last traded at $112.53, with a volume of 14,752,061 shares traded.
Analyst Ratings Changes
Several brokerages have recently commented on HOOD. KeyCorp raised their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Mizuho raised their target price on Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. The Goldman Sachs Group raised their target price on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. JPMorgan Chase & Co. lifted their price objective on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Morgan Stanley lifted their price objective on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $85.29.
Read Our Latest Analysis on HOOD
Robinhood Markets Stock Performance
The company has a market cap of $97.17 billion, a P/E ratio of 62.35, a P/E/G ratio of 5.38 and a beta of 2.36. The firm has a 50 day moving average price of $78.73 and a 200-day moving average price of $57.55.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The business had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same period in the prior year, the firm posted $0.18 EPS. Robinhood Markets's revenue for the quarter was up 50.0% on a year-over-year basis. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the completion of the transaction, the director owned 7,863 shares of the company's stock, valued at approximately $506,848.98. The trade was a 98.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total value of $69,952,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,749,630 shares of company stock valued at $221,118,663. Insiders own 14.47% of the company's stock.
Hedge Funds Weigh In On Robinhood Markets
Several large investors have recently made changes to their positions in the business. Whipplewood Advisors LLC raised its holdings in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after acquiring an additional 508 shares in the last quarter. Hemington Wealth Management raised its holdings in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 218 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Robinhood Markets in the 1st quarter valued at approximately $30,000. CoreCap Advisors LLC raised its holdings in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after acquiring an additional 550 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its holdings in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after acquiring an additional 750 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.
About Robinhood Markets
(
Get Free Report)
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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