Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) was up 7.7% during trading on Thursday . The company traded as high as $48.14 and last traded at $48.09. 18,896,819 shares changed hands during trading, a decline of 23% from the average daily volume of 24,598,871 shares. The stock had previously closed at $44.66.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. Barclays dropped their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Piper Sandler upped their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. JMP Securities lowered their price target on Robinhood Markets from $77.00 to $70.00 and set a "market outperform" rating for the company in a report on Tuesday, April 8th. Finally, Morgan Stanley lowered shares of Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 target price for the company. in a research note on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $53.88.
View Our Latest Analysis on HOOD
Robinhood Markets Stock Up 2.7 %
The firm's 50 day simple moving average is $43.49 and its 200 day simple moving average is $40.89. The company has a market cap of $43.79 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 EPS 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%. Analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $47.82, for a total transaction of $280,990.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction that occurred 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. Insiders sold 2,240,460 shares of company stock valued at $110,036,750 over the last 90 days. 19.95% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Robinhood Markets
Several hedge funds have recently modified their holdings of the company. Whipplewood Advisors LLC boosted its stake in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets in the 4th quarter valued at about $26,000. CoreCap Advisors LLC boosted its position in shares of Robinhood Markets by 191.6% during 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 in the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after purchasing an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC acquired a new position in shares of Robinhood Markets in the 4th quarter worth approximately $34,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.
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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