Robinhood Markets (NASDAQ:HOOD) Shares Up 8.4% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price traded up 8.4% on Monday . The stock traded as high as $48.99 and last traded at $48.08. 23,215,045 shares were traded during trading, an increase of 10% from the average session volume of 21,111,482 shares. The stock had previously closed at $44.36.

Analysts Set New Price Targets

Several research firms recently commented on HOOD. Raymond James began coverage on Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating for the company. JMP Securities raised their target price on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft reduced their price target on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Needham & Company LLC upped their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Barclays lifted 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. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $61.29.

Robinhood Markets Price Performance

The business has a 50 day simple moving average of $49.35 and a 200 day simple moving average of $37.82. The company has a market capitalization of $42.63 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.05 and a beta of 2.14.

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

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction dated 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 SEC, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of Robinhood Markets 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 transaction, the insider now owns 731,642 shares of the company’s stock, valued at $29,594,918.90. The trade was a 12.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,908,632 shares of company stock valued at $140,891,991. 19.95% of the stock is currently owned by company insiders.

Institutional Trading of Robinhood Markets

Large investors have recently made changes to their positions in the company. FMR LLC increased its position in shares of Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC increased its holdings in Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock valued at $900,159,000 after buying an additional 273,860 shares during the last quarter. State Street Corp increased its holdings in Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after buying an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Robinhood Markets by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock worth $455,464,000 after buying an additional 555,299 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Robinhood Markets by 34.4% during the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock worth $450,031,000 after buying an additional 3,091,514 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.