Robinhood Markets (NASDAQ:HOOD) Trading Up 0.9% - What's Next?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares traded up 0.9% during mid-day trading on Monday . The stock traded as high as $63.14 and last traded at $62.29. 13,101,065 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 26,242,244 shares. The stock had previously closed at $61.76.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HOOD. KeyCorp lowered their target price on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley increased their target price on Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 13th. Citigroup dropped their price objective on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Compass Point started coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They set a "buy" rating and a $61.00 price target on the stock. Finally, Wolfe Research downgraded shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $55.41.

Robinhood Markets Stock Up 4.1%

The company's fifty day moving average is $45.27 and its 200 day moving average is $43.79. The stock has a market cap of $56.92 billion, a PE ratio of 40.94, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly 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 business had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. During the same period last year, the company posted $0.18 earnings per share. The firm's revenue for the quarter was up 50.0% on a year-over-year basis. Equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total value of $3,038,500.00. Following the completion of the transaction, the insider now owns 706,642 shares of the company's stock, valued at approximately $42,942,634.34. This represents a 6.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Steven M. Quirk sold 123,272 shares of Robinhood Markets stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.80, for a total value of $6,878,577.60. Following the sale, the insider now owns 298,826 shares in the company, valued at $16,674,490.80. This represents a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,947,622 shares of company stock worth $89,994,656. 14.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently modified their holdings of the stock. Park Avenue Securities LLC bought a new position in Robinhood Markets during the fourth quarter worth $1,447,000. Ritholtz Wealth Management bought a new position in shares of Robinhood Markets in the 4th quarter worth about $375,000. Hennessy Advisors Inc. acquired a new position in shares of Robinhood Markets in the 4th quarter valued at about $1,304,000. Merit Financial Group LLC bought a new stake in shares of Robinhood Markets during the 4th quarter valued at about $668,000. Finally, Udine Wealth Management Inc. raised its stake in Robinhood Markets by 70.2% during the fourth quarter. Udine Wealth Management Inc. now owns 78,447 shares of the company's stock worth $2,923,000 after acquiring an additional 32,357 shares during the period. Institutional investors and hedge funds 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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