Robinhood Markets (NASDAQ:HOOD) Stock Price Up 7.5% – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price traded up 7.5% during trading on Thursday . The stock traded as high as $52.81 and last traded at $52.50. 21,939,768 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 27,162,523 shares. The stock had previously closed at $48.85.

Analyst Ratings Changes

HOOD has been the topic of a number of analyst reports. Needham & Company LLC raised their price target on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. KeyCorp raised their target price on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Mizuho upped their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Morgan Stanley boosted their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.53.

Robinhood Markets Price Performance

The firm’s 50 day moving average price is $48.34 and its two-hundred day moving average price is $34.88. The firm has a market cap of $44.29 billion, a price-to-earnings ratio of 31.91, a P/E/G ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share 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%. On average, analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total value of $477,750.00. Following the completion of the sale, the insider now owns 1,106,955 shares in the company, valued at $42,307,820.10. This trade represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven M. Quirk sold 19,861 shares of the business’s stock in a transaction that occurred on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the transaction, the insider now owns 395,166 shares in the company, valued at $14,834,531.64. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,643,879 shares of company stock worth $207,663,007 in the last three months. Insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently bought and sold shares of the business. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets in the 4th quarter valued at about $26,000. HM Payson & Co. increased its holdings in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares in the last quarter. True Wealth Design LLC purchased a new position in Robinhood Markets in the third quarter valued at about $30,000. CoreCap Advisors LLC lifted its position in shares of 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 acquiring an additional 550 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.