Robinhood Markets (NASDAQ:HOOD) Trading Up 2.5% – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD) shot up 2.5% during trading on Tuesday . The company traded as high as $42.00 and last traded at $42.65. 11,724,988 shares traded hands during trading, a decline of 46% from the average session volume of 21,861,005 shares. The stock had previously closed at $41.62.

Analyst Ratings Changes

Several brokerages have weighed in on HOOD. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Compass Point assumed coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Needham & Company LLC decreased their target price on Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Finally, Piper Sandler boosted their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.24.

Robinhood Markets Price Performance

The firm’s fifty day moving average is $48.73 and its two-hundred day moving average is $38.63. The firm has a market cap of $37.79 billion, a price-to-earnings ratio of 27.18, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $40.45, for a total value of $4,045,000.00. Following the completion of the sale, the insider now directly owns 731,642 shares of the company’s stock, valued at approximately $29,594,918.90. This represents a 12.02 % 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, Director Baiju Bhatt sold 47,023 shares of Robinhood Markets stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $46.37, for a total transaction of $2,180,456.51. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at $233,797.54. This represents a 90.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,205,655 shares of company stock valued at $113,702,448. 19.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds have recently modified their holdings of HOOD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Robinhood Markets by 8.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,178,669 shares of the company’s stock valued at $51,024,000 after purchasing an additional 177,395 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Robinhood Markets by 31.0% in the third quarter. Captrust Financial Advisors now owns 18,942 shares of the company’s stock worth $444,000 after buying an additional 4,487 shares during the period. Verition Fund Management LLC increased its position in shares of Robinhood Markets by 34.2% in the third quarter. Verition Fund Management LLC now owns 81,843 shares of the company’s stock worth $1,917,000 after acquiring an additional 20,838 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Robinhood Markets by 13,581.5% during the third quarter. Benjamin Edwards Inc. now owns 73,059 shares of the company’s stock valued at $1,711,000 after acquiring an additional 72,525 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its position in shares of Robinhood Markets by 246.9% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 2,390 shares of the company’s stock valued at $56,000 after acquiring an additional 1,701 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.