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

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Traders bought 327,953 call options on the company. This is an increase of approximately 23% compared to the typical volume of 265,762 call options.

Robinhood Markets Trading Down 1.1 %

Shares of HOOD stock traded down $0.54 during trading hours on Monday, reaching $48.05. 37,055,934 shares of the company's stock were exchanged, compared to its average volume of 25,854,727. The stock's 50 day moving average is $43.08 and its 200-day moving average is $41.76. Robinhood Markets has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The company has a market cap of $42.55 billion, a price-to-earnings ratio of 30.61, a P/E/G ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business 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 13.53% and a net margin of 47.81%. Robinhood Markets's quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 EPS. Equities analysts anticipate that Robinhood Markets will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several recent analyst reports. Citigroup dropped their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. KeyCorp dropped their price objective on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Compass Point began coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target on the stock. Finally, Barclays dropped their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average target price of $53.24.

Insider Transactions at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $49.27, for a total value of $288,377.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 522,180 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the transaction, the director now directly owns 5,042 shares in the company, valued at $316,133.40. The trade was a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,309,593 shares of company stock valued at $113,525,021. 19.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its position in shares of Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC lifted its holdings in Robinhood Markets by 1.1% during the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after buying an additional 273,860 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Robinhood Markets by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after buying an additional 555,299 shares in the last quarter. Renaissance Technologies LLC grew its stake in Robinhood Markets by 34.4% during the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after buying an additional 3,091,514 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in Robinhood Markets by 0.5% in the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after purchasing an additional 52,700 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.