Robinhood Markets (NASDAQ:HOOD) Trading Up 0% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD) rose 0% during mid-day trading on Wednesday . The stock traded as high as $43.15 and last traded at $42.17. Approximately 12,937,242 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 21,969,011 shares. The stock had previously closed at $42.16.

Analysts Set New Price Targets

HOOD has been the subject of a number of research analyst reports. KeyCorp upped their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Raymond James assumed coverage on Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating on the stock. Compass Point assumed coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 target price for the company. Deutsche Bank Aktiengesellschaft decreased their price target on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Finally, The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $60.24.

Robinhood Markets Stock Performance

The stock has a 50-day simple moving average of $48.49 and a 200 day simple moving average of $38.62. The stock has a market capitalization of $33.88 billion, a P/E ratio of 24.37, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

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

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $42.64, for a total value of $250,552.64. Following the completion of the sale, the chief technology officer now owns 5,876 shares in the company, valued at approximately $250,552.64. This trade represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,627,010 shares of company stock valued at $131,897,049 over the last three months. 19.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently modified their holdings of the stock. MetLife Investment Management LLC grew 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 valued at $440,000 after buying an additional 171 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of Robinhood Markets by 2.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after purchasing an additional 233 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after purchasing an additional 277 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in 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 buying an additional 498 shares during the last quarter. Finally, Spire Wealth Management lifted its position in shares of Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after buying an additional 549 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

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.