Robinhood Markets (NASDAQ:HOOD) Stock Price Up 2% – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price shot up 2% during mid-day trading on Thursday . The company traded as high as $44.24 and last traded at $43.65. 15,512,162 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 20,803,884 shares. The stock had previously closed at $42.80.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. KeyCorp lifted their price objective on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Compass Point initiated coverage on shares of Robinhood Markets in a research note on Wednesday. They set a “buy” rating and a $61.00 price target on the stock. Raymond James assumed coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating for the company. Finally, Piper Sandler raised their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $61.29.

Robinhood Markets Stock Performance

The stock has a 50-day moving average of $49.04 and a two-hundred day moving average of $37.16. The company has a market cap of $39.28 billion, a P/E ratio of 28.25, a P/E/G ratio of 1.05 and a beta of 2.14.

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

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $42.64, for a total transaction of $250,552.64. Following the transaction, the chief technology officer now directly owns 5,876 shares in the company, valued at approximately $250,552.64. The trade was a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,979,251 shares of company stock worth $142,232,560. 19.95% of the stock is currently owned by company insiders.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently modified their holdings of HOOD. New Wave Wealth Advisors LLC bought a new stake in Robinhood Markets during the fourth quarter worth about $26,000. True Wealth Design LLC purchased a new position in shares of Robinhood Markets during the third quarter valued at approximately $30,000. CoreCap Advisors LLC boosted its position in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after buying an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC bought a new position in Robinhood Markets during the 4th quarter valued at approximately $34,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.