Robinhood Markets (NASDAQ:HOOD) Trading Up 1.1% After Insider Buying Activity

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) was up 1.1% on Wednesday after an insider bought additional shares in the company. The company traded as high as $76.03 and last traded at $75.77. Approximately 9,814,127 shares changed hands during trading, a decline of 64% from the average daily volume of 27,373,531 shares. The stock had previously closed at $74.95.

Specifically, Director Christopher D. Payne acquired 26,500 shares of Robinhood Markets stock in a transaction that occurred on Friday, June 13th. The shares were acquired at an average price of $74.19 per share, for a total transaction of $1,966,035.00. Following the transaction, the director now directly owns 26,500 shares of the company's stock, valued at approximately $1,966,035. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup cut their price target on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Compass Point started coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They set a "buy" rating and a $61.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Wolfe Research downgraded shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Finally, Mizuho boosted their price objective on shares of Robinhood Markets from $65.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average price target of $58.00.

Robinhood Markets Stock Up 2.3%

The firm has a market cap of $67.87 billion, a price-to-earnings ratio of 43.09, a PEG ratio of 4.53 and a beta of 2.25. The firm has a 50 day moving average of $57.73 and a 200 day moving average of $49.26.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The company had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same period last year, the business earned $0.18 EPS. The business's quarterly revenue was up 50.0% compared to the same quarter last year. Equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently bought and sold shares of HOOD. FMR LLC grew its stake in shares of Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after buying an additional 26,107,934 shares during the period. Norges Bank bought a new position in Robinhood Markets in the fourth quarter worth approximately $329,598,000. GQG Partners LLC bought a new position in Robinhood Markets in the fourth quarter worth approximately $302,325,000. Vanguard Group Inc. grew its stake in Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after acquiring an additional 5,874,701 shares during the period. Finally, AGF Management Ltd. increased its holdings in shares of Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after acquiring an additional 4,255,862 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

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.

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