Robinhood Markets (NASDAQ:HOOD) Trading 8.4% Higher – What’s Next?

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

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. KeyCorp lifted their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Citigroup increased their price target on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Compass Point began coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They set a “buy” rating and a $61.00 price target on the stock. Finally, JMP Securities raised their target price on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and a consensus price target of $61.29.

Robinhood Markets Stock Performance

The business has a 50-day simple moving average of $49.04 and a 200-day simple moving average of $37.41. The company has a market cap of $42.58 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

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

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 owns 17,559 shares in the company, valued at $821,936.79. The trade was a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,679,251 shares of company stock worth $130,979,560. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HOOD. Victory Capital Management Inc. boosted its stake in Robinhood Markets by 85.3% in the third quarter. Victory Capital Management Inc. now owns 117,383 shares of the company’s stock valued at $2,749,000 after acquiring an additional 54,046 shares in the last quarter. Natixis Advisors LLC grew its stake in Robinhood Markets by 44.0% during the 3rd quarter. Natixis Advisors LLC now owns 33,980 shares of the company’s stock worth $796,000 after buying an additional 10,376 shares during the last quarter. Quest Partners LLC increased its position in Robinhood Markets by 1,008.4% during the third quarter. Quest Partners LLC now owns 15,086 shares of the company’s stock worth $353,000 after buying an additional 13,725 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Robinhood Markets during the third quarter worth approximately $365,000. Finally, Commerce Bank lifted its stake in Robinhood Markets by 3.3% in the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after buying an additional 423 shares during the last quarter. 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.