Robinhood Markets (NASDAQ:HOOD) Stock Price Up 2.8% – What’s Next?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) were up 2.8% during mid-day trading on Friday . The company traded as high as $95.75 and last traded at $93.29. Approximately 14,494,927 shares changed hands during trading, a decline of 50% from the average daily volume of 28,829,549 shares. The stock had previously closed at $90.71.

Analyst Ratings Changes

A number of brokerages recently commented on HOOD. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Robinhood Markets in a report on Wednesday, June 24th. Cantor Fitzgerald decreased their price objective on Robinhood Markets from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday. Wall Street Zen upgraded Robinhood Markets from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Needham & Company LLC decreased their target price on shares of Robinhood Markets from $123.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Robinhood Markets in a report on Thursday, May 28th. Twenty-one equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.52.

Robinhood Markets Trading Up 2.8%

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $84.01 billion, a PE ratio of 41.10, a PEG ratio of 1.82 and a beta of 2.35. The stock has a fifty day moving average of $99.19 and a 200 day moving average of $86.77.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.18. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 2.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 67,422 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total transaction of $5,082,270.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $83.68, for a total transaction of $836,800.00. Following the sale, the insider directly owned 481,396 shares in the company, valued at approximately $40,283,217.28. The trade was a 2.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have purchased 680,000 shares of company stock worth $55,306,560 and have sold 631,263 shares worth $66,929,157. Company insiders own 13.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HOOD. Truist Financial Corp increased its position in shares of Robinhood Markets by 88.9% during the fourth quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock valued at $16,455,000 after acquiring an additional 68,458 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Robinhood Markets by 86.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock valued at $11,406,000 after purchasing an additional 46,688 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in Robinhood Markets by 196.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 722,857 shares of the company’s stock worth $81,755,000 after purchasing an additional 478,919 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Robinhood Markets by 100.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 60,000 shares of the company’s stock worth $6,786,000 after buying an additional 30,000 shares during the period. Finally, Swiss Life Asset Management Ltd grew its stake in shares of Robinhood Markets by 107.8% in the fourth quarter. Swiss Life Asset Management Ltd now owns 272,604 shares of the company’s stock valued at $30,832,000 after buying an additional 141,440 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.