Robinhood Markets (NASDAQ:HOOD) Trading Up 5.8% - Here's What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) was up 5.8% during mid-day trading on Thursday . The stock traded as high as $75.35 and last traded at $76.45. Approximately 20,749,600 shares changed hands during trading, a decline of 22% from the average daily volume of 26,635,604 shares. The stock had previously closed at $72.27.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on HOOD shares. Morgan Stanley upped their price objective on Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. Citigroup dropped their price target on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. The Goldman Sachs Group raised their price objective on Robinhood Markets from $56.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Compass Point assumed coverage on Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective on the stock. Finally, JMP Securities reiterated a "market outperform" rating and set a $70.00 target price on shares of Robinhood Markets in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.41.

Robinhood Markets Price Performance

The firm has a market capitalization of $66.30 billion, a price-to-earnings ratio of 47.69, a PEG ratio of 1.05 and a beta of 2.25. The business's 50-day moving average price is $52.58 and its 200 day moving average price is $47.38.

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 analysts' expectations of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business's quarterly revenue was up 50.0% on a year-over-year basis. During the same period last year, the firm earned $0.18 EPS. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company's stock in a transaction dated 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. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,226,771 shares of company stock valued at $111,467,774 in the last three months. Corporate insiders own 14.47% of the company's stock.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds have recently bought and sold shares of HOOD. Whipplewood Advisors LLC lifted its holdings in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after buying an additional 508 shares during the last quarter. Hemington Wealth Management increased its holdings in shares of 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 acquiring an additional 218 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets during the 1st quarter valued at approximately $30,000. CoreCap Advisors LLC lifted its stake in Robinhood Markets by 191.6% during the fourth 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. Finally, Creative Financial Designs Inc. ADV lifted its stake in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after purchasing an additional 750 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.