Robinhood Markets Target of Unusually High Options Trading (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) was the target of some unusual options trading on Thursday. Investors acquired 327,953 call options on the stock. This is an increase of approximately 23% compared to the average daily volume of 265,762 call options.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Mizuho boosted their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Raymond James began coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating on the stock. Morgan Stanley downgraded shares of Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 target price on the stock. in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. Finally, Barclays cut their price target on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $53.24.

Robinhood Markets Stock Performance

HOOD traded down $1.92 during trading on Thursday, reaching $47.20. The stock had a trading volume of 69,792,149 shares, compared to its average volume of 25,403,012. The business has a 50-day moving average of $43.10 and a 200-day moving average of $41.27. Robinhood Markets has a one year low of $13.98 and a one year high of $66.91. The stock has a market cap of $41.79 billion, a PE ratio of 30.01, a PEG ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its 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). The firm had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business's quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. Equities research analysts forecast that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm'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 completion of the transaction, the chief technology officer now directly owns 5,853 shares in the company, valued at $201,987.03. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. Insiders sold 2,334,593 shares of company stock valued at $114,815,021 over the last 90 days. 19.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Robinhood Markets

Several institutional investors and hedge funds have recently bought and sold shares of HOOD. FMR LLC raised its holdings in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC grew its stake in shares of Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after acquiring an additional 273,860 shares during the last quarter. Geode Capital Management LLC boosted its stake in Robinhood Markets by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock worth $455,464,000 after purchasing an additional 555,299 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after acquiring an additional 3,091,514 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Robinhood Markets by 0.5% during 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 last quarter. 93.27% of the stock is currently 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.

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