Robinhood Markets (NASDAQ:HOOD) Trading 5.1% Higher – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD) shot up 5.1% during trading on Tuesday . The company traded as high as $38.30 and last traded at $37.46. 26,647,753 shares traded hands during trading, a decline of 16% from the average session volume of 31,810,279 shares. The stock had previously closed at $35.63.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HOOD. Sanford C. Bernstein raised their price target on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. JMP Securities lifted their price target on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Piper Sandler increased their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Barclays boosted their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, KeyCorp increased their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.31.

Robinhood Markets Trading Down 7.5 %

The company has a 50 day simple moving average of $49.00 and a 200 day simple moving average of $36.26. The stock has a market cap of $31.89 billion, a P/E ratio of 22.94, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other Robinhood Markets news, insider Steven M. Quirk sold 123,272 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the transaction, the insider now owns 298,826 shares in the company, valued at $16,674,490.80. This trade represents a 29.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the sale, the insider now owns 806,955 shares of the company’s stock, valued at approximately $30,268,882.05. The trade was a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,985,127 shares of company stock worth $142,455,378. Insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. MetLife Investment Management LLC lifted its stake in Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock worth $440,000 after purchasing an additional 171 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after purchasing an additional 233 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after purchasing an additional 277 shares during the last quarter. Commerce Bank lifted its stake in Robinhood Markets by 3.3% during the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after purchasing an additional 423 shares during the last quarter. Finally, Spire Wealth Management lifted its stake in Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after purchasing an additional 549 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

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.