Robinhood Markets (NASDAQ:HOOD) Trading Up 2% - Here's What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price traded up 2% during trading on Thursday . The company traded as high as $44.24 and last traded at $43.65. 15,512,162 shares were traded during mid-day trading, a decline of 25% from the average session volume of 20,803,884 shares. The stock had previously closed at $42.80.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HOOD. Needham & Company LLC increased their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Mizuho raised their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Raymond James assumed coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating on the stock. Barclays boosted their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Finally, Cantor Fitzgerald initiated coverage on Robinhood Markets in a research report on Thursday, March 6th. They issued an "overweight" rating and a $69.00 price target for the company. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and an average target price of $61.29.

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Robinhood Markets Stock Performance

The firm has a 50-day moving average of $49.04 and a 200-day moving average of $37.28. The firm has a market capitalization of $39.28 billion, a P/E ratio of 28.25, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its 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 anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the transaction, the chief technology officer now directly owns 17,559 shares of the company's stock, valued at $821,936.79. This represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,979,251 shares of company stock worth $142,232,560. Company insiders own 19.95% of the company's stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC lifted its position in Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after purchasing an additional 171 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock worth $368,000 after buying an additional 233 shares during the period. First Horizon Advisors Inc. grew its position in shares of Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock worth $142,000 after purchasing an additional 277 shares in the last quarter. Commerce Bank raised its stake in Robinhood Markets by 3.3% during the 3rd quarter. Commerce Bank now owns 13,245 shares of the company's stock valued at $310,000 after purchasing an additional 423 shares during the period. Finally, Spire Wealth Management lifted its holdings in Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock worth $40,000 after purchasing an additional 549 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

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.