Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shot up 5.1% during mid-day trading on Tuesday . The company traded as high as $38.30 and last traded at $37.46. 26,647,753 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 31,810,279 shares. The stock had previously closed at $35.63.
Analyst Ratings Changes
HOOD has been the topic of several research analyst reports. Barclays increased their price target on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Sanford C. Bernstein increased their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. Needham & Company LLC increased their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, February 13th. The Goldman Sachs Group raised shares of Robinhood Markets from a "neutral" rating to a "buy" rating and increased their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. Finally, Morgan Stanley increased their price target on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $61.31.
Get Our Latest Report on HOOD
Robinhood Markets Trading Up 7.0 %
The stock's 50-day simple moving average is $49.00 and its 200-day simple moving average is $36.26. The stock has a market cap of $34.46 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted 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%. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.
Insider Buying and Selling
In related news, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 228,645 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the sale, the director now owns 5,042 shares in the company, valued at $203,545.54. This represents a 97.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,985,127 shares of company stock worth $142,455,378. Corporate insiders own 19.95% of the company's stock.
Hedge Funds Weigh In On Robinhood Markets
Several institutional investors and hedge funds have recently added to or reduced their stakes in HOOD. New Wave Wealth Advisors LLC bought a new position in Robinhood Markets in the 4th quarter valued at approximately $26,000. True Wealth Design LLC bought a new position in Robinhood Markets in the 3rd quarter valued at approximately $30,000. CoreCap Advisors LLC lifted its stake in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after purchasing an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC bought a new position in Robinhood Markets in the 4th quarter valued at approximately $34,000. Institutional investors own 93.27% of the company's stock.
About Robinhood Markets
(
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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