Robinhood Markets (NASDAQ:HOOD) Trading Up 1.4% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD) rose 1.4% during trading on Thursday . The company traded as high as $45.41 and last traded at $45.35. Approximately 22,877,631 shares changed hands during mid-day trading, an increase of 7% from the average daily volume of 21,463,227 shares. The stock had previously closed at $44.73.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Mizuho raised their price objective on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their target price for the company from $40.00 to $46.00 in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Needham & Company LLC boosted their target price on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, KeyCorp raised their price target on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.29.

Robinhood Markets Price Performance

The firm has a market capitalization of $39.42 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The firm’s 50-day moving average price is $49.33 and its 200 day moving average price is $37.87.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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 predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the transaction, the director now owns 5,042 shares of the company’s stock, valued at $316,133.40. The trade was a 99.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $43.36, for a total transaction of $253,786.08. Following the sale, the chief technology officer now directly owns 11,706 shares of the company’s stock, valued at approximately $507,572.16. This represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,955,655 shares of company stock valued at $143,072,448 over the last three months. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

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