Traders Purchase High Volume of Robinhood Markets Call Options (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) saw unusually large options trading activity on Wednesday. Stock investors bought 381,578 call options on the company. This is an increase of 25% compared to the average volume of 305,357 call options.

Robinhood Markets Trading Up 3.3%

Shares of NASDAQ:HOOD traded up $2.37 on Friday, reaching $74.88. 61,705,294 shares of the company were exchanged, compared to its average volume of 26,951,360. The company has a 50-day moving average of $52.58 and a 200-day moving average of $47.46. The firm has a market cap of $66.30 billion, a price-to-earnings ratio of 47.69, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25. Robinhood Markets has a 1-year low of $13.98 and a 1-year high of $77.80.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 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%. Robinhood Markets's revenue was up 50.0% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. As a group, analysts forecast that Robinhood Markets will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $34.51, for a total value of $201,987.03. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $71.64, for a total value of $1,791,000.00. Following the completion of the sale, the insider now directly owns 841,887 shares in the company, valued at approximately $60,312,784.68. The trade was a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,226,771 shares of company stock valued at $111,467,774 over the last ninety days. Company insiders own 14.47% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently added to or reduced their stakes in the business. Whipplewood Advisors LLC lifted its holdings in shares of Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares in the last quarter. Hemington Wealth Management raised its position in shares of Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 218 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in Robinhood Markets in the 1st quarter valued at approximately $30,000. Pandora Wealth Inc. acquired a new stake in Robinhood Markets during the 1st quarter valued at $33,000. Finally, CoreCap Advisors LLC grew its holdings in Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of analyst reports. Needham & Company LLC restated a "buy" rating and issued a $71.00 price objective on shares of Robinhood Markets in a report on Tuesday, May 27th. Wolfe Research downgraded Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Piper Sandler increased their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. Finally, Compass Point began coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target for the company. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $55.41.

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.