Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) rose 7% during trading on Tuesday . The stock traded as high as $43.07 and last traded at $42.64. Approximately 13,659,931 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 24,287,452 shares. The stock had previously closed at $39.85.
Wall Street Analysts Forecast Growth
HOOD has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Mizuho increased their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. KeyCorp cut their price target on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, Morgan Stanley cut Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 target price for the company. in a research report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Robinhood Markets presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.88.
Get Our Latest Analysis on HOOD
Robinhood Markets Stock Up 2.7 %
The company has a fifty day moving average price of $43.49 and a 200 day moving average price of $40.79. The stock has a market cap of $43.79 billion, a PE ratio of 31.50, a P/E/G ratio of 1.05 and a beta of 2.17.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.
Insider Buying and Selling at Robinhood Markets
In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction on Monday, April 7th. The shares were sold at an average price of $34.51, for a total transaction of $201,987.03. Following the transaction, the chief technology officer now owns 5,853 shares in the company, valued at approximately $201,987.03. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,240,460 shares of company stock valued at $110,036,750. 19.95% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Robinhood Markets
A number of hedge funds and other institutional investors have recently modified their holdings of HOOD. MetLife Investment Management LLC increased its holdings in shares of Robinhood Markets by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after purchasing an additional 171 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after purchasing an additional 233 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after buying an additional 265 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock worth $142,000 after buying an additional 277 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Robinhood Markets by 28.6% during the 1st quarter. Blue Trust Inc. now owns 1,998 shares of the company's stock valued at $83,000 after buying an additional 444 shares in the last quarter. 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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