Robinhood Markets (NASDAQ:HOOD) Shares Up 1% – Here’s What Happened

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) rose 1% during trading on Friday . The stock traded as high as $109.99 and last traded at $107.30. Approximately 39,921,041 shares traded hands during mid-day trading, a decline of 0% from the average daily volume of 40,020,988 shares. The stock had previously closed at $106.21.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HOOD shares. Needham & Company LLC lifted their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Barclays lifted their target price on shares of Robinhood Markets from $162.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Zacks Research lowered shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. CICC Research assumed coverage on shares of Robinhood Markets in a research note on Monday, October 27th. They set an “outperform” rating and a $155.00 price target for the company. Finally, Citizens Jmp upped their price objective on Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, November 7th. Fourteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average target price of $136.95.

Robinhood Markets Trading Up 1.0%

The stock has a market capitalization of $96.48 billion, a P/E ratio of 44.52, a P/E/G ratio of 2.66 and a beta of 2.42. The firm’s fifty day moving average is $132.48 and its 200-day moving average is $104.21.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data 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. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm earned $0.17 earnings per share. The company’s quarterly revenue was up 100.0% compared to the same quarter last year. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $145.95, for a total value of $3,648,750.00. Following the completion of the transaction, the insider owned 540,949 shares in the company, valued at approximately $78,951,506.55. The trade was a 4.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $116.56, for a total value of $48,761,477.28. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 5,134,080 shares of company stock worth $626,549,514. 14.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. grew its stake in shares of Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after purchasing an additional 148 shares during the last quarter. Hemington Wealth Management raised its position in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 218 shares during the last quarter. Valley National Advisers Inc. boosted its position in Robinhood Markets by 113.6% in the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the last quarter. Golden State Wealth Management LLC boosted its position in Robinhood Markets by 107.6% in the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after buying an additional 99 shares during the last quarter. Finally, Smithfield Trust Co bought a new position in Robinhood Markets in the 2nd quarter valued at $29,000. Institutional investors own 93.27% of the company’s stock.

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.