Robinhood Markets (NASDAQ:HOOD) Shares Up 3% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price shot up 3% during mid-day trading on Monday. The company traded as high as $85.34 and last traded at $83.32. Approximately 15,025,427 shares traded hands during trading, a decline of 43% from the average session volume of 26,391,055 shares. The stock had previously closed at $80.91.

Analysts Set New Price Targets

Several research analysts have recently issued reports on HOOD shares. Citizens Jmp reaffirmed a “market outperform” rating and issued a $165.00 target price on shares of Robinhood Markets in a research note on Wednesday, October 28th. Keefe, Bruyette & Woods boosted their price target on shares of Robinhood Markets from $100.00 to $115.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 29th. Mizuho increased their price objective on shares of Robinhood Markets from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, September 9th. JPMorgan Chase & Co. reduced their price objective on shares of Robinhood Markets from $115.00 to $114.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 28th. Finally, Compass Point raised their price objective on shares of Robinhood Markets from $126.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.45.

Robinhood Markets Stock Up 3.0%

The business has a fifty day moving average of $105.97 and a 200 day moving average of $92.30. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.26. The firm has a market cap of $74.91 billion, a P/E ratio of 38.40, a P/E/G ratio of 1.80 and a beta of 2.56.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 28th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Robinhood Markets had a return on equity of 21.49% and a net margin of 39.04%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.61 earnings per share. On average, equities research analysts predict that Robinhood Markets, Inc. will post 2.10 EPS for the current year.

Insider Buying and Selling

In related news, CAO Dara Bazzano sold 4,473 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $85.32, for a total transaction of $381,636.36. Following the completion of the transaction, the chief accounting officer owned 3,000 shares in the company, valued at approximately $255,960. The trade was a 59.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 11,472 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $110.42, for a total transaction of $1,266,738.24. Following the transaction, the chief financial officer owned 56,858 shares of the company’s stock, valued at approximately $6,278,260.36. This represents a 16.79% 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. Insiders sold a total of 1,095,820 shares of company stock worth $128,775,816 over the last quarter. Insiders own 13.48% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds have recently bought and sold shares of HOOD. James T. Borello RIA bought a new stake in shares of Robinhood Markets in the 3rd quarter valued at $29,000. C M Bidwell & Associates Ltd. acquired a new stake in Robinhood Markets during the 2nd quarter worth $27,000. Continuum Advisory LLC acquired a new stake in Robinhood Markets during the 2nd quarter worth $40,000. Three Bridge Wealth Advisors LLC bought a new position in Robinhood Markets during the third quarter worth about $50,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in Robinhood Markets during the first quarter worth about $33,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Company Profile

Robinhood Markets, Inc operates a digital financial services platform that gives customers access to investing and financial products through its website and mobile app. Its offerings include trading in stocks, exchange-traded funds, options and cryptocurrencies, as well as retirement accounts and cash-management services.

Founded in 2013 by Vlad Tenev and Baiju Bhatt, Robinhood built its business around making financial services more accessible through a mobile-first platform. The company is headquartered in Menlo Park, California, and serves customers in the United States and select international markets.

Robinhood also offers subscription-based services through Robinhood Gold, which provides eligible customers with additional account features.