Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shot up 1.5% during mid-day trading on Monday . The stock traded as high as $117.27 and last traded at $116.32. 13,687,544 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 41,655,777 shares. The stock had previously closed at $114.63.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on HOOD. Redburn Atlantic reaffirmed a "sell" rating and issued a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Piper Sandler raised their target price on shares of Robinhood Markets from $110.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Compass Point raised their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. KeyCorp increased their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, JMP Securities raised their price target on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $96.29.
Check Out Our Latest Analysis on Robinhood Markets
Robinhood Markets Stock Performance
The stock has a market capitalization of $100.97 billion, a price-to-earnings ratio of 57.68, a PEG ratio of 4.37 and a beta of 2.36. The company's 50 day moving average is $91.32 and its 200 day moving average is $64.19.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. During the same quarter in the prior year, the firm earned $0.21 EPS. The firm's quarterly revenue was up 45.0% compared to the same quarter last year. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.
Insider Activity
In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $104.73, for a total transaction of $614,136.72. Following the completion of the transaction, the chief technology officer directly owned 3,044 shares of the company's stock, valued at $318,798.12. This trade represents a 65.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $104.23, for a total transaction of $2,605,750.00. Following the transaction, the insider directly owned 566,887 shares of the company's stock, valued at $59,086,632.01. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,752,293 shares of company stock worth $436,586,556. Corporate insiders own 14.47% of the company's stock.
Hedge Funds Weigh In On Robinhood Markets
Several hedge funds and other institutional investors have recently made changes to their positions in the company. WCM Investment Management LLC lifted its holdings in Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company's stock valued at $1,081,910,000 after purchasing an additional 11,244,182 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Robinhood Markets during the second quarter worth $951,479,000. Vanguard Group Inc. lifted its holdings in shares of Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after buying an additional 5,874,701 shares in the last quarter. AGF Management Ltd. lifted its holdings in shares of Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after buying an additional 4,255,862 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Robinhood Markets by 335.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock worth $193,202,000 after buying an additional 3,994,745 shares in the last quarter. 93.27% of the stock is owned by institutional investors.
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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