Robinhood Markets (NASDAQ:HOOD) Stock Price Up 2.2% – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD) shares traded up 2.2% on Tuesday . The stock traded as high as $129.18 and last traded at $125.95. 25,157,519 shares traded hands during trading, a decline of 37% from the average session volume of 39,713,469 shares. The stock had previously closed at $123.24.

Analysts Set New Price Targets

Several equities analysts have commented on HOOD shares. Keefe, Bruyette & Woods raised their target price on shares of Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a report on Thursday, November 6th. Barclays upped their price objective on Robinhood Markets from $162.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Citizens Jmp upped their price target on Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a research report on Friday, November 7th. Dbs Bank raised shares of Robinhood Markets to a “moderate buy” rating in a research note on Wednesday, November 12th. Finally, Zacks Research upgraded Robinhood Markets from a “hold” rating to a “strong-buy” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $136.95.

Robinhood Markets Trading Up 2.2%

The business has a 50-day moving average of $132.67 and a 200 day moving average of $108.13. The firm has a market capitalization of $113.25 billion, a PE ratio of 52.26, a price-to-earnings-growth ratio of 2.89 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.20. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The firm’s revenue for the quarter was up 100.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 earnings per share. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, insider Steven M. Quirk sold 48,350 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $140.61, for a total transaction of $6,798,493.50. Following the transaction, the insider owned 70,279 shares of the company’s stock, valued at $9,881,930.19. This represents a 40.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $116.56, for a total transaction of $48,761,477.28. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 4,020,272 shares of company stock valued at $511,809,493. Corporate insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. purchased a new position in shares of Robinhood Markets during the third quarter worth about $1,002,000. Cambria Investment Management L.P. lifted its position in Robinhood Markets by 63.1% during the third quarter. Cambria Investment Management L.P. now owns 15,358 shares of the company’s stock valued at $2,199,000 after purchasing an additional 5,943 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Robinhood Markets during the 3rd quarter valued at $15,056,000. Tcfg Wealth Management LLC increased its stake in Robinhood Markets by 35.0% in the third quarter. Tcfg Wealth Management LLC now owns 3,626 shares of the company’s stock valued at $519,000 after acquiring an additional 941 shares during the last quarter. Finally, WBI Investments LLC purchased a new position in shares of Robinhood Markets during the 3rd quarter valued at about $1,431,000. 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.