Robinhood Markets (NASDAQ:HOOD) Trading Up 2.2% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price was up 2.2% during trading on Friday . The stock traded as high as $49.73 and last traded at $49.19. Approximately 13,910,879 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 24,719,738 shares. The stock had previously closed at $48.15.

Analysts Set New Price Targets

HOOD has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Wolfe Research downgraded Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Mizuho raised their target price on 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 reiterated a “market perform” rating and set a $60.00 price target on shares of Robinhood Markets in a research note on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and an average price target of $53.88.

Robinhood Markets Stock Performance

The firm has a market cap of $43.79 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 1.05 and a beta of 2.17. The business’s 50 day moving average price is $43.49 and its 200 day moving average price is $40.89.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. 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 47.81% and a return on equity of 13.53%. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $34.51, for a total transaction of $201,987.03. Following the transaction, the chief technology officer now directly owns 5,853 shares of the company’s stock, valued at $201,987.03. This trade represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 47,133 shares of Robinhood Markets stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $45.27, for a total transaction of $2,133,710.91. Following the completion of the sale, the director now owns 7,863 shares in the company, valued at approximately $355,958.01. This trade represents a 85.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,240,460 shares of company stock worth $110,036,750 in the last ninety days. Company insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MetLife Investment Management LLC increased its stake in Robinhood Markets by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock worth $440,000 after buying an additional 171 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after acquiring an additional 233 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Robinhood Markets by 4.0% during the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company’s stock worth $290,000 after purchasing an additional 265 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock valued at $142,000 after purchasing an additional 277 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Robinhood Markets by 28.6% in the 1st quarter. Blue Trust Inc. now owns 1,998 shares of the company’s stock valued at $83,000 after purchasing an additional 444 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other 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.