Robinhood Markets (NASDAQ:HOOD) Trading 0% Higher – Here’s Why

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price rose 0% during mid-day trading on Wednesday . The company traded as high as $43.15 and last traded at $42.17. Approximately 12,937,242 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 21,969,011 shares. The stock had previously closed at $42.16.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 price target on shares of Robinhood Markets in a research note on Thursday, March 27th. Compass Point started coverage on Robinhood Markets in a research report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 target price on the stock. Cantor Fitzgerald started coverage on Robinhood Markets in a research report on Thursday, March 6th. They set an “overweight” rating and a $69.00 price target for the company. Mizuho raised their price objective on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.82.

Robinhood Markets Price Performance

The firm has a market capitalization of $38.26 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The stock has a 50-day moving average price of $48.88 and a 200-day moving average price of $38.60.

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

Insiders Place Their Bets

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $42.64, for a total value of $250,552.64. Following the completion of the sale, the chief technology officer now directly owns 5,876 shares in the company, valued at approximately $250,552.64. The trade was a 50.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold a total of 2,955,655 shares of company stock valued at $143,072,448 in the last ninety days. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Several hedge funds have recently made changes to their positions in HOOD. FMR LLC boosted its position in shares of Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after buying an additional 26,107,934 shares during the period. Newlands Management Operations LLC increased its holdings in shares of Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock valued at $900,159,000 after purchasing an additional 273,860 shares during the period. State Street Corp raised its stake in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after purchasing an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock worth $455,464,000 after purchasing an additional 555,299 shares during the period. Finally, Renaissance Technologies LLC grew its position in Robinhood Markets by 34.4% in the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after buying an additional 3,091,514 shares in the last quarter. 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.