Robinhood Markets (NASDAQ:HOOD) Stock Price Up 5.1% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price traded up 5.1% during trading on Tuesday . The company traded as high as $38.30 and last traded at $37.46. 26,647,753 shares traded hands during trading, a decline of 16% from the average session volume of 31,810,279 shares. The stock had previously closed at $35.63.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HOOD. Sanford C. Bernstein raised their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Raymond James began coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating on the stock. Mizuho lifted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods upped their price target on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Finally, Needham & Company LLC upped their price target on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $60.13.

Robinhood Markets Trading Up 2.8 %

The firm has a fifty day moving average of $48.98 and a two-hundred day moving average of $36.14. The company has a market capitalization of $32.45 billion, a PE ratio of 23.32, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates 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 expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the sale, the chief technology officer now owns 17,559 shares in the company, valued at $821,936.79. This represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,171,641 shares of company stock worth $149,567,157. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Hedge funds have recently made changes to their positions in the stock. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $26,000. True Wealth Design LLC bought a new stake in shares of Robinhood Markets in the 3rd quarter worth $30,000. CoreCap Advisors LLC raised its stake in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in shares of Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after purchasing an additional 750 shares in the last quarter. Finally, Colonial Trust Co SC purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at $34,000. 93.27% of the stock is owned by institutional investors.

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.