Robinhood Markets Sees Unusually High Options Volume (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD) saw some unusual options trading activity on Tuesday. Stock traders purchased 212,695 call options on the stock. This represents an increase of approximately 67% compared to the typical volume of 127,528 call options.

Robinhood Markets Stock Performance

Robinhood Markets stock traded up $2.29 during midday trading on Tuesday, reaching $25.61. The stock had a trading volume of 39,086,434 shares, compared to its average volume of 15,511,539. The stock has a market capitalization of $22.51 billion, a PE ratio of 169.27 and a beta of 1.84. The stock’s 50-day simple moving average is $20.61 and its 200 day simple moving average is $20.41. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $25.80.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The firm had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. During the same quarter in the prior year, the company earned $0.03 EPS. The company’s revenue was up 40.3% on a year-over-year basis. Equities analysts predict that Robinhood Markets will post 0.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Citigroup upped their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. The Goldman Sachs Group increased their price target on shares of Robinhood Markets from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Morgan Stanley upped their target price on shares of Robinhood Markets from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. KeyCorp lifted their price target on shares of Robinhood Markets from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Barclays upped their price target on Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a report on Monday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.83.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the sale, the insider now directly owns 1,045,068 shares of the company’s stock, valued at approximately $20,201,164.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Robinhood Markets news, Director Baiju Bhatt sold 120,236 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $22.20, for a total transaction of $2,669,239.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the transaction, the insider now directly owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 977,389 shares of company stock worth $18,518,940 over the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Several large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its stake in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after buying an additional 722 shares in the last quarter. ORG Partners LLC acquired a new position in Robinhood Markets in the 2nd quarter worth $33,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Robinhood Markets during the first quarter worth about $34,000. International Assets Investment Management LLC acquired a new position in shares of Robinhood Markets in the second quarter worth about $40,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Robinhood Markets during the 2nd quarter worth approximately $45,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Company Profile

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.