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

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price rose 1.1% during mid-day trading on Wednesday following insider buying activity. The company traded as high as $76.03 and last traded at $75.77. Approximately 9,814,127 shares were traded 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 bought 26,500 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average cost of $74.19 per share, for a total transaction of $1,966,035.00. Following the completion of the acquisition, the director now owns 26,500 shares in the company, valued at $1,966,035. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HOOD. Redburn Atlantic reissued a "sell" rating and set a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Citigroup reduced their target price on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. JMP Securities reissued a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a research report on Thursday, May 1st. JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Finally, Compass Point began 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus target price of $58.00.

Robinhood Markets Price Performance

The firm has a market capitalization of $69.51 billion, a price-to-earnings ratio of 44.60, a PEG ratio of 4.62 and a beta of 2.25. The business's 50-day moving average price is $59.90 and its 200 day moving average price is $50.02.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The business's quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter in the prior 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.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MetLife Investment Management LLC increased its holdings in Robinhood Markets by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after purchasing an additional 171 shares during the last quarter. Cigna Investments Inc. New grew its position in shares of Robinhood Markets by 2.7% during the first quarter. Cigna Investments Inc. New now owns 6,730 shares of the company's stock worth $280,000 after buying an additional 174 shares in the last quarter. Hemington Wealth Management increased its stake in shares of Robinhood Markets by 52.2% in 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 last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after acquiring an additional 233 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Robinhood Markets by 4.0% during the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock valued at $290,000 after acquiring an additional 265 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other 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.