Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report)’s stock price rose 5.5% on Wednesday . The stock traded as high as $39.59 and last traded at $39.58. Approximately 10,144,491 shares traded hands during trading, a decline of 41% from the average daily volume of 17,069,357 shares. The stock had previously closed at $37.50.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. JMP Securities increased their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. Piper Sandler boosted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. Finally, KeyCorp lifted their price objective on Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.20.
Robinhood Markets Stock Performance
The stock has a 50 day moving average of $33.83 and a two-hundred day moving average of $26.00. The firm has a market capitalization of $34.99 billion, a P/E ratio of 67.09, a P/E/G ratio of 0.76 and a beta of 2.09.
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. Robinhood Markets’s quarterly revenue was up 36.4% compared to the same quarter last year. Sell-side analysts predict that Robinhood Markets, Inc. will post 0.8 EPS for the current year.
Insider Buying and Selling at Robinhood Markets
In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $22.88, for a total transaction of $5,720,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $37.92, for a total transaction of $222,817.92. Following the completion of the sale, the chief technology officer now owns 11,752 shares in the company, valued at $445,635.84. This represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,043,565 shares of company stock worth $177,315,305 over the last ninety days. Company insiders own 19.95% of the company’s stock.
Hedge Funds Weigh In On Robinhood Markets
Several large investors have recently added to or reduced their stakes in HOOD. HM Payson & Co. lifted its holdings in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares during the period. Eastern Bank acquired a new position in Robinhood Markets in the third quarter worth about $30,000. True Wealth Design LLC bought a new position in Robinhood Markets during the third quarter worth about $30,000. ORG Wealth Partners LLC acquired a new stake in Robinhood Markets during the third quarter valued at approximately $33,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Robinhood Markets in the 2nd quarter valued at approximately $40,000. Institutional investors and hedge funds 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.