Robinhood Markets (NASDAQ:HOOD) Stock Price Up 8.4% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price traded up 8.4% during mid-day trading on Monday . The stock traded as high as $48.99 and last traded at $48.08. 23,215,045 shares were traded during trading, an increase of 10% from the average session volume of 21,111,482 shares. The stock had previously closed at $44.36.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HOOD. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their target price for the company from $40.00 to $46.00 in a report on Friday, December 6th. Barclays upped their price target on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Mizuho lifted their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. JMP Securities upped their price objective on shares of 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, Needham & Company LLC raised their target price on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

Robinhood Markets Trading Up 8.4 %

The stock’s 50 day moving average price is $49.04 and its two-hundred day moving average price is $37.41. The firm has a market capitalization of $42.58 billion, a PE ratio of 30.57, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $40.45, for a total transaction of $4,045,000.00. Following the completion of the sale, the insider now directly owns 731,642 shares of the company’s stock, valued at approximately $29,594,918.90. This represents a 12.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the sale, the chief technology officer now directly owns 17,559 shares of the company’s stock, valued at $821,936.79. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,679,251 shares of company stock valued at $130,979,560 in the last 90 days. 19.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new position in shares of Robinhood Markets in the fourth quarter worth about $26,000. True Wealth Design LLC purchased a new position in shares of Robinhood Markets during the 3rd quarter valued at approximately $30,000. CoreCap Advisors LLC grew its position in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after buying an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV increased its stake in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after buying an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC bought a new position in Robinhood Markets during the 4th quarter valued at $34,000. 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.