Robinhood Markets (NASDAQ:HOOD) Stock Price Up 1.5% - What's Next?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) rose 1.5% during mid-day trading on Friday . The stock traded as high as $75.83 and last traded at $73.62. Approximately 14,134,377 shares traded hands during trading, a decline of 47% from the average daily volume of 26,795,484 shares. The stock had previously closed at $72.51.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $54.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Morgan Stanley lifted their target price on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. 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. Finally, Piper Sandler lifted their target price on Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Robinhood Markets currently has an average rating of "Moderate Buy" and an average target price of $55.41.

Robinhood Markets Stock Up 3.3%

The stock has a market capitalization of $66.30 billion, a price-to-earnings ratio of 47.69, a P/E/G ratio of 1.05 and a beta of 2.25. The business has a 50-day simple moving average of $52.58 and a two-hundred day simple moving average of $47.38.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The firm had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. During the same quarter last year, the company earned $0.18 earnings per share. The business's revenue for the quarter was up 50.0% on a year-over-year basis. On average, analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $71.64, for a total value of $1,791,000.00. Following the transaction, the insider now directly owns 841,887 shares of the company's stock, valued at approximately $60,312,784.68. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $43.36, for a total transaction of $253,786.08. Following the transaction, the chief technology officer now directly owns 11,706 shares in the company, valued at $507,572.16. The trade was a 33.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,226,771 shares of company stock worth $111,467,774. Insiders own 14.47% of the company's stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently bought and sold shares of the business. IFP Advisors Inc increased its position in Robinhood Markets by 601.1% during the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock worth $164,000 after buying an additional 3,769 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Robinhood Markets by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock worth $175,857,000 after buying an additional 138,267 shares during the last quarter. Aigen Investment Management LP increased its position in Robinhood Markets by 161.2% during the fourth quarter. Aigen Investment Management LP now owns 85,868 shares of the company's stock worth $3,199,000 after buying an additional 52,988 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Robinhood Markets by 19.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company's stock worth $179,463,000 after buying an additional 739,631 shares during the last quarter. Finally, Allegiance Financial Group Advisory Services LLC acquired a new position in Robinhood Markets during the fourth quarter worth $207,000. 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.