Robinhood Markets (NASDAQ:HOOD) Trading Up 3.4% - Here's What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares traded up 3.4% on Monday . The company traded as high as $59.33 and last traded at $56.52. 19,776,784 shares were traded during trading, a decline of 24% from the average session volume of 26,075,455 shares. The stock had previously closed at $54.65.

Analyst Upgrades and Downgrades

HOOD has been the subject of several analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $70.00 target price on shares of Robinhood Markets in a research note on Thursday, May 1st. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 price target on shares of Robinhood Markets in a research note on Thursday, March 27th. KeyCorp reduced their price target on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Finally, Morgan Stanley boosted their price target on Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $55.24.

Robinhood Markets Price Performance

The stock has a 50-day simple moving average of $43.92 and a 200-day simple moving average of $42.96. The stock has a market cap of $55.34 billion, a P/E ratio of 39.81, a PEG ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released 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 firm's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 EPS. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction on Monday, April 7th. The stock was sold at an average price of $34.51, for a total value of $201,987.03. Following the completion of the transaction, the chief technology officer now directly owns 5,853 shares in the company, valued at approximately $201,987.03. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the sale, the director now directly owns 5,042 shares of the company's stock, valued at $316,133.40. This represents a 99.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,362,194 shares of company stock valued at $116,234,743 over the last 90 days. Insiders own 14.47% of the company's stock.

Institutional Trading of Robinhood Markets

Hedge funds have recently modified their holdings of the business. Whipplewood Advisors LLC boosted its holdings in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at about $26,000. Hemington Wealth Management boosted its stake in Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after buying an additional 218 shares during the period. Wayfinding Financial LLC purchased a new position in Robinhood Markets during the 1st quarter valued at $30,000. Finally, CoreCap Advisors LLC grew its stake in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after acquiring an additional 550 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

About Robinhood Markets

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.