Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares rose 0.3% on Thursday . The stock traded as high as $41.57 and last traded at $40.78. Approximately 7,537,979 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 24,068,591 shares. The stock had previously closed at $40.66.
Analysts Set New Price Targets
Several research firms have recently issued reports on HOOD. Cantor Fitzgerald assumed coverage on Robinhood Markets in a report on Thursday, March 6th. They set an "overweight" rating and a $69.00 price objective on the stock. Raymond James began coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a "market perform" rating for the company. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. KeyCorp upped their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Finally, Needham & Company LLC decreased their price target on shares of Robinhood Markets from $70.00 to $62.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $55.06.
Read Our Latest Stock Analysis on HOOD
Robinhood Markets Stock Up 1.3 %
The business's 50 day moving average price is $45.22 and its 200-day moving average price is $40.17. The company has a market cap of $36.46 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Baiju Bhatt sold 223,072 shares of Robinhood Markets stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $41.24, for a total value of $9,199,489.28. Following the completion of the sale, the director now owns 7,863 shares in the company, valued at approximately $324,270.12. The trade was a 96.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 500,000 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $50.77, for a total transaction of $25,385,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,784,193 shares of company stock worth $137,892,219. 19.95% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Robinhood Markets
A number of hedge funds have recently bought and sold shares of the company. FMR LLC grew its position in shares of Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after acquiring an additional 26,107,934 shares in the last quarter. Norges Bank acquired a new position in Robinhood Markets in the fourth quarter worth $329,598,000. GQG Partners LLC acquired a new position in Robinhood Markets in the fourth quarter worth $302,325,000. Artisan Partners Limited Partnership bought a new stake in Robinhood Markets during the fourth quarter valued at $152,949,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Robinhood Markets by 335.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock worth $193,202,000 after purchasing an additional 3,994,745 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.
Robinhood Markets Company Profile
(
Get Free Report)
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.
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