Robinhood Markets (NASDAQ:HOOD) Stock Price Up 11.8% After Better-Than-Expected Earnings

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) were up 11.8% on Thursday following a stronger than expected earnings report. The company traded as high as $66.91 and last traded at $62.53. Approximately 43,068,475 shares changed hands during mid-day trading, an increase of 91% from the average daily volume of 22,551,186 shares. The stock had previously closed at $55.91.

The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Barclays raised their target price on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday. Piper Sandler lifted their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday. Sanford C. Bernstein upped their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, Citigroup lifted their price target on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $57.07.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Baiju Bhatt sold 90,866 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the completion of the sale, the director now owns 5,042 shares in the company, valued at approximately $279,024.28. The trade was 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 owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank lifted its stake in shares of Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after acquiring an additional 16,219 shares during the period. Everence Capital Management Inc. acquired a new position in shares of Robinhood Markets in the 4th quarter worth approximately $634,000. Atomi Financial Group Inc. boosted its stake in shares of Robinhood Markets by 20.7% in the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after purchasing an additional 92,613 shares during the last quarter. Requisite Capital Management LLC acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $266,000. Finally, Baker Avenue Asset Management LP increased its position in shares of Robinhood Markets by 77.9% during the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after buying an additional 203,354 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Up 11.6 %

The business’s 50 day moving average is $44.48 and its two-hundred day moving average is $31.90. The firm has a market cap of $55.17 billion, a P/E ratio of 105.87, a P/E/G ratio of 0.73 and a beta of 2.13.

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.