Robinhood Markets (NASDAQ:HOOD) Announces Quarterly Earnings Results

Robinhood Markets (NASDAQ:HOOD) announced its earnings results on Wednesday. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13, Zacks reports. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock traded up $2.57 on Wednesday, reaching $55.91. The company had a trading volume of 45,147,790 shares, compared to its average volume of 21,740,221. The firm has a market cap of $49.42 billion, a price-to-earnings ratio of 94.76, a P/E/G ratio of 0.73 and a beta of 2.13. The firm’s 50-day moving average price is $44.16 and its two-hundred day moving average price is $31.73. Robinhood Markets has a 1 year low of $11.43 and a 1 year high of $57.27.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of Robinhood Markets stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the sale, the insider now directly owns 806,955 shares of the company’s stock, valued at $30,268,882.05. The trade was a 27.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 90,866 shares of Robinhood Markets stock in a transaction on Friday, February 7th. The shares were sold at an average price of $55.34, for a total value of $5,028,524.44. Following the sale, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $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 90 days, insiders sold 3,948,427 shares of company stock worth $165,005,244. 19.95% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JMP Securities raised their target price on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. Barclays raised their price objective on Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $20.00 to $43.00 in a research note on Tuesday, January 7th. Finally, KeyCorp raised their price objective on Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $46.67.

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.