Robinhood Markets Target of Unusually Large Options Trading (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD) was the recipient of some unusual options trading on Thursday. Traders bought 238,973 call options on the stock. This is an increase of approximately 35% compared to the average daily volume of 176,834 call options.

Insiders Place Their Bets

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the completion of the transaction, the chief technology officer now owns 11,752 shares in the company, valued at approximately $445,635.84. This represents a 33.33 % decrease in their position. The sale 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 firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the transaction, the director now owns 5,042 shares of the company’s stock, valued at approximately $279,024.28. This represents a 94.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,948,427 shares of company stock worth $165,005,244. 19.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. New Wave Wealth Advisors LLC bought a new stake in Robinhood Markets in the 4th quarter valued at approximately $26,000. HM Payson & Co. raised its holdings in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the last quarter. Eastern Bank bought a new stake in shares of Robinhood Markets in the third quarter worth $30,000. True Wealth Design LLC bought a new stake in shares of Robinhood Markets in the third quarter worth $30,000. Finally, Creative Financial Designs Inc. ADV boosted its holdings in Robinhood Markets by 750.0% during the fourth 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. 93.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on HOOD shares. JPMorgan Chase & Co. boosted their target price on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley upped their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday. KeyCorp lifted their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday. Raymond James started coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating for the company. Finally, Needham & Company LLC raised their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.07.

Robinhood Markets Stock Performance

NASDAQ HOOD traded up $6.54 during trading hours on Thursday, reaching $62.45. 46,124,030 shares of the company’s stock were exchanged, compared to its average volume of 22,632,260. The company has a market capitalization of $55.20 billion, a price-to-earnings ratio of 105.87, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. The company’s 50-day moving average is $44.48 and its two-hundred day moving average is $31.90. Robinhood Markets has a one year low of $12.77 and a one year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data 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 net margin of 21.80% and a return on equity of 7.52%. Research analysts predict that Robinhood Markets will post 0.97 earnings per share for the current fiscal year.

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.