Robinhood Markets (NASDAQ:HOOD) Shares Up 1.3% - Here's Why

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares were up 1.3% during mid-day trading on Friday . The company traded as high as $64.62 and last traded at $64.77. Approximately 6,521,518 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 39,019,098 shares. The stock had previously closed at $63.95.

Analyst Upgrades and Downgrades

HOOD has been the topic of several analyst reports. KeyCorp reduced their price target on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. 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 on the stock. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. JMP Securities restated a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a report on Thursday, May 1st. Finally, Wolfe Research cut Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and a consensus target price of $55.41.

Robinhood Markets Trading Up 2.8%

The firm has a market cap of $60.19 billion, a PE ratio of 43.30, a PEG ratio of 1.05 and a beta of 2.15. The firm has a 50 day moving average price of $49.68 and a 200-day moving average price of $46.25.

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 business had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business's quarterly revenue was up 50.0% compared to the same quarter last year. During the same period last year, the company earned $0.18 EPS. Equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $38.31, for a total value of $957,750.00. Following the transaction, the insider now directly owns 822,825 shares of the company's stock, valued at $31,522,425.75. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the completion of the sale, the director now directly owns 7,863 shares of the company's stock, valued at approximately $506,848.98. This trade represents a 98.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,102,737 shares of company stock worth $102,593,978. 14.47% of the stock is currently owned by insiders.

Institutional Trading of Robinhood Markets

Large investors have recently made changes to their positions in the company. Whipplewood Advisors LLC lifted its stake in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares during the last quarter. Hemington Wealth Management raised its position 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 purchasing an additional 218 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Robinhood Markets during the 1st quarter worth $30,000. Pandora Wealth Inc. purchased a new position in Robinhood Markets during the 1st quarter worth $33,000. Finally, CoreCap Advisors LLC grew its position in Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.