Robinhood Markets (NASDAQ:HOOD) Trading 3.7% Higher – Here’s Why

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price rose 3.7% during trading on Monday . The stock traded as high as $40.42 and last traded at $40.67. Approximately 13,146,263 shares traded hands during trading, a decline of 60% from the average daily volume of 33,109,984 shares. The stock had previously closed at $39.24.

Analyst Ratings Changes

A number of research firms recently weighed in on HOOD. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Raymond James initiated coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating on the stock. Citigroup increased their target price on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. JMP Securities boosted their price target on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley lifted their target price on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Five 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.31.

Robinhood Markets Stock Up 8.0 %

The stock has a market capitalization of $37.54 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 1.05 and a beta of 2.14. The company’s 50-day moving average is $48.88 and its 200-day moving average is $36.61.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 228,645 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the transaction, the director now owns 5,042 shares of the company’s stock, valued at approximately $203,545.54. This represents a 97.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,985,127 shares of company stock worth $142,455,378 over the last three months. Insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds have recently modified their holdings of HOOD. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets in the fourth quarter valued at $26,000. True Wealth Design LLC purchased a new position in shares of Robinhood Markets during the 3rd quarter worth approximately $30,000. CoreCap Advisors LLC raised its holdings in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after acquiring an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after purchasing an additional 750 shares in the last quarter. Finally, Colonial Trust Co SC purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $34,000. 93.27% of the stock is owned by institutional investors and hedge funds.

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.