Robinhood Markets (NASDAQ:HOOD) Stock Price Up 1.2% – Here’s What Happened

by · The Markets Daily

Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report)’s share price traded up 1.2% during mid-day trading on Thursday . The stock traded as high as $124.25 and last traded at $117.16. 23,954,931 shares were traded during mid-day trading, a decline of 39% from the average session volume of 39,044,859 shares. The stock had previously closed at $115.80.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HOOD. Piper Sandler reiterated an “overweight” rating on shares of Robinhood Markets in a report on Wednesday, November 26th. The Goldman Sachs Group increased their target price on Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Barclays boosted their price target on Robinhood Markets from $168.00 to $171.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Dbs Bank raised Robinhood Markets to a “moderate buy” rating in a research report on Wednesday, November 12th. Finally, Compass Point reissued a “buy” rating on shares of Robinhood Markets in a research report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $137.25.

Get Our Latest Stock Report on Robinhood Markets

Robinhood Markets Stock Up 1.2%

The business has a fifty day simple moving average of $130.25 and a two-hundred day simple moving average of $113.14. The company has a market cap of $105.35 billion, a P/E ratio of 48.61, a P/E/G ratio of 2.40 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the company posted $0.17 EPS. The business’s quarterly revenue was up 100.0% compared to the same quarter last year. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 1,330,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $128.47, for a total transaction of $170,865,100.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,686,763 shares of company stock valued at $475,858,262 over the last three months. Insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HOOD. Vanguard Group Inc. increased its holdings in Robinhood Markets by 24.9% in the 3rd quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock worth $13,521,497,000 after acquiring an additional 18,824,923 shares in the last quarter. State Street Corp increased its stake in shares of Robinhood Markets by 103.2% in the third quarter. State Street Corp now owns 32,246,155 shares of the company’s stock worth $4,617,004,000 after purchasing an additional 16,375,734 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Robinhood Markets by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock valued at $1,233,840,000 after purchasing an additional 507,926 shares during the period. WCM Investment Management LLC raised its position in shares of Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after purchasing an additional 11,244,182 shares during the period. Finally, Norges Bank purchased a new position in shares of Robinhood Markets during the 2nd quarter valued at $973,122,000. Institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

(Get Free Report)

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.

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