Robinhood Markets (NASDAQ:HOOD) Trading 0.6% Higher - What's Next?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) traded up 0.6% on Thursday . The stock traded as high as $65.66 and last traded at $64.24. 10,604,662 shares were traded during trading, a decline of 60% from the average session volume of 26,361,684 shares. The stock had previously closed at $63.86.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Robinhood Markets from $56.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. KeyCorp decreased their target price on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Compass Point initiated coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They set a "buy" rating and a $61.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Robinhood Markets presently has an average rating of "Moderate Buy" and an average price target of $55.41.

Robinhood Markets Stock Up 1.3%

The company has a market capitalization of $57.26 billion, a price-to-earnings ratio of 41.17, a P/E/G ratio of 1.05 and a beta of 2.15. The business has a fifty day simple moving average of $46.85 and a two-hundred day simple moving average of $44.35.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company 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%. Robinhood Markets's quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 EPS. As a group, equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Steven M. Quirk sold 123,272 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the completion of the sale, the insider now owns 298,826 shares in the company, valued at $16,674,490.80. The trade was a 29.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 107,608 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $60.41, for a total value of $6,500,599.28. Following the sale, the director now owns 7,863 shares of the company's stock, valued at approximately $475,003.83. The trade was a 93.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,897,622 shares of company stock worth $86,956,156 in the last 90 days. 14.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently made changes to their positions in HOOD. FMR LLC raised its position in shares of Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after acquiring an additional 26,107,934 shares during the last quarter. Norges Bank acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $329,598,000. GQG Partners LLC acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $302,325,000. Vanguard Group Inc. grew its stake 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 purchasing an additional 5,874,701 shares during the period. Finally, AGF Management Ltd. grew its stake 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 purchasing an additional 4,255,862 shares during the period. 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.

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