Robinhood Markets (NASDAQ:HOOD) Shares Up 0.2% - Here's Why

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price traded up 0.2% on Tuesday . The company traded as high as $45.56 and last traded at $44.21. Approximately 13,168,616 shares traded hands during trading, a decline of 45% from the average session volume of 23,875,768 shares. The stock had previously closed at $44.14.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of recent research reports. Mizuho lifted their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Raymond James began coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating for the company. Wolfe Research lowered shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lifted their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, Compass Point initiated coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective on the stock. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus target price of $55.06.

Robinhood Markets Stock Performance

The company has a market capitalization of $36.46 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 1.05 and a beta of 2.17. The business has a 50-day simple moving average of $45.22 and a two-hundred day simple moving average of $40.05.

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

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 123,272 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the sale, the insider now directly owns 298,826 shares in the company, valued at approximately $16,674,490.80. The trade was a 29.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 500,000 shares of the company's stock in a transaction on Wednesday, January 22nd. The stock was 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. Insiders have sold a total of 2,784,193 shares of company stock worth $137,892,219 over the last ninety days. 19.95% of the stock is currently owned by company insiders.

Institutional Trading of Robinhood Markets

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of Robinhood Markets by 184.8% during 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. Newlands Management Operations LLC raised its holdings in Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after purchasing an additional 273,860 shares during the last quarter. Geode Capital Management LLC boosted its position in Robinhood Markets by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock worth $455,464,000 after purchasing an additional 555,299 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after purchasing an additional 3,091,514 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of Robinhood Markets by 0.5% in the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after buying an additional 52,700 shares in the last quarter. Hedge funds and other institutional investors 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.