Robinhood Markets (NASDAQ:HOOD) Trading 5% Higher - What's Next?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares rose 5% during trading on Tuesday . The company traded as high as $67.13 and last traded at $66.35. Approximately 12,821,527 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 26,463,202 shares. The stock had previously closed at $63.17.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. upped 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. Barclays cut their price target on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. The Goldman Sachs Group upped their price objective on Robinhood Markets from $56.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $54.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Morgan Stanley increased their price target on shares of Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $55.41.

Robinhood Markets Stock Performance

The company has a market cap of $57.66 billion, a price-to-earnings ratio of 41.36, a PEG ratio of 1.05 and a beta of 2.15. The firm's 50-day moving average price is $48.62 and its 200 day moving average price is $45.48.

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 firm had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business's revenue was up 50.0% compared to the same quarter last year. During the same period last year, the company posted $0.18 earnings per share. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the sale, the chief technology officer now owns 5,853 shares in the company, valued at approximately $201,987.03. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on 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 transaction, the director now directly owns 7,863 shares in the company, valued at $506,848.98. This represents a 98.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,192,688 shares of company stock valued at $107,043,646 in the last ninety days. 14.47% of the stock is currently owned by company insiders.

Institutional Trading of Robinhood Markets

A number of large investors have recently modified their holdings of the business. Janney Montgomery Scott LLC increased its stake in Robinhood Markets by 88.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 24,825 shares of the company's stock worth $925,000 after purchasing an additional 11,650 shares during the period. Mount Yale Investment Advisors LLC bought a new stake in shares of Robinhood Markets during the 4th quarter valued at $238,000. R Squared Ltd bought a new stake in shares of Robinhood Markets during the 4th quarter valued at $212,000. Robeco Institutional Asset Management B.V. boosted its stake in Robinhood Markets by 28.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,488,308 shares of the company's stock worth $55,454,000 after purchasing an additional 327,068 shares in the last quarter. Finally, BOCHK Asset Management Ltd bought a new position in shares of Robinhood Markets during the fourth quarter valued at $16,640,000. Institutional investors own 93.27% of the company's stock.

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.