Robinhood Markets (NASDAQ:HOOD) Stock Price Up 2.5% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price traded up 2.5% on Wednesday . The company traded as high as $35.79 and last traded at $35.03. 19,160,708 shares changed hands during trading, a decline of 17% from the average session volume of 23,072,946 shares. The stock had previously closed at $34.17.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HOOD. JMP Securities lowered their price target on shares of Robinhood Markets from $77.00 to $70.00 and set a “market outperform” rating on the stock in a report on Tuesday. Barclays dropped their price target on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday. Citigroup cut their price target on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Morgan Stanley cut Robinhood Markets from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a research note on Tuesday. Finally, KeyCorp increased their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $55.06.

Robinhood Markets Stock Performance

The stock has a market cap of $38.68 billion, a PE ratio of 27.82, a PEG ratio of 1.05 and a beta of 2.17. The company’s 50-day moving average price is $46.63 and its two-hundred day moving average price is $39.35.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $51.60, for a total value of $1,290,000.00. Following the transaction, the insider now owns 706,642 shares in the company, valued at approximately $36,462,727.20. The trade was a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $34.51, for a total value of $201,987.03. Following the sale, the chief technology officer now owns 5,853 shares of the company’s stock, valued at $201,987.03. This represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,651,987 shares of company stock worth $132,806,233 in the last quarter. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MetLife Investment Management LLC increased its stake in shares of Robinhood Markets by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock worth $440,000 after buying an additional 171 shares during the period. Dorsey & Whitney Trust CO LLC increased its position 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 valued at $368,000 after acquiring an additional 233 shares during the period. First Horizon Advisors Inc. raised its stake in shares of Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock valued at $142,000 after acquiring an additional 277 shares during the last quarter. City State Bank raised its stake in shares of Robinhood Markets by 94.0% during the first quarter. City State Bank now owns 970 shares of the company’s stock valued at $40,000 after acquiring an additional 470 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock worth $36,000 after purchasing an additional 498 shares during the period. 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.