Stock Traders Buy Large Volume of Robinhood Markets Call Options (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) saw unusually large options trading activity on Thursday. Stock traders acquired 238,973 call options on the stock. This is an increase of approximately 35% compared to the average volume of 176,834 call options.

Robinhood Markets Stock Up 2.3 %

Shares of Robinhood Markets stock traded up $1.48 during trading hours on Friday, reaching $65.28. 39,248,779 shares of the company's stock were exchanged, compared to its average volume of 19,924,428. Robinhood Markets has a 1 year low of $13.04 and a 1 year high of $66.91. The company has a market capitalization of $57.71 billion, a P/E ratio of 110.65, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. The business has a fifty day moving average of $45.45 and a two-hundred day moving average of $32.52.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. As a group, research analysts predict that Robinhood Markets will post 0.97 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on HOOD shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods boosted their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a "market perform" rating in a research note on Friday, December 20th. KeyCorp boosted their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday. Piper Sandler boosted their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Citigroup boosted their target price on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $58.07.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 90,866 shares of the company's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the completion of the sale, the director now directly owns 5,042 shares in the company, valued at $279,024.28. This trade represents a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,948,427 shares of company stock valued at $165,005,244. Insiders own 19.95% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently modified their holdings of the company. Toronto Dominion Bank grew its holdings in shares of Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company's stock valued at $1,602,000 after purchasing an additional 16,219 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at about $634,000. Atomi Financial Group Inc. grew its holdings in shares of Robinhood Markets by 20.7% in the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company's stock valued at $20,154,000 after purchasing an additional 92,613 shares during the period. Requisite Capital Management LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at about $266,000. Finally, Baker Avenue Asset Management LP grew its holdings in shares of Robinhood Markets by 77.9% in the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company's stock valued at $10,874,000 after purchasing an additional 203,354 shares during the period. 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.