Robinhood Markets (NASDAQ:HOOD) Trading Up 2.7% – What’s Next?

by · The Markets Daily

Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report)’s stock price traded up 2.7% during trading on Tuesday . The company traded as high as $77.70 and last traded at $77.35. 20,089,622 shares were traded during mid-day trading, a decline of 33% from the average session volume of 29,871,047 shares. The stock had previously closed at $75.31.

Robinhood Markets News Roundup

Here are the key news stories impacting Robinhood Markets this week:

Analyst Ratings Changes

Several equities analysts recently weighed in on HOOD shares. Wall Street Zen downgraded Robinhood Markets from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a research note on Wednesday, February 11th. Wolfe Research upgraded shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective on the stock in a report on Monday, February 9th. Loop Capital set a $130.00 target price on shares of Robinhood Markets in a research report on Monday, February 9th. Finally, Cantor Fitzgerald lowered their target price on shares of Robinhood Markets from $130.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, February 17th. Seventeen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.59.

Read Our Latest Research Report on HOOD

Robinhood Markets Price Performance

The stock has a 50-day moving average price of $90.37 and a 200-day moving average price of $113.67. The firm has a market capitalization of $69.64 billion, a PE ratio of 37.55, a price-to-earnings-growth ratio of 1.66 and a beta of 2.47.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Robinhood Markets had a return on equity of 22.32% and a net margin of 42.10%.The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business posted $1.01 earnings per share. Robinhood Markets’s revenue for the quarter was up 26.5% on a year-over-year basis. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, insider Steven M. Quirk sold 52,540 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $87.81, for a total value of $4,613,537.40. Following the sale, the insider directly owned 27,564 shares of the company’s stock, valued at $2,420,394.84. This represents a 65.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $75.49, for a total transaction of $754,900.00. Following the transaction, the insider owned 452,849 shares in the company, valued at $34,185,571.01. This trade represents a 2.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 475,132 shares of company stock worth $55,127,149 over the last three months. 19.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Robinhood Markets by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company’s stock valued at $10,831,756,000 after buying an additional 1,334,443 shares during the last quarter. State Street Corp grew its position in shares of Robinhood Markets by 2.7% in the 4th quarter. State Street Corp now owns 33,121,452 shares of the company’s stock worth $3,746,036,000 after acquiring an additional 875,297 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Robinhood Markets by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock valued at $2,386,944,000 after acquiring an additional 356,902 shares during the last quarter. Morgan Stanley raised its position in shares of Robinhood Markets by 23.9% during the 4th quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock valued at $1,208,335,000 after acquiring an additional 2,061,832 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Robinhood Markets during the 4th quarter valued at approximately $1,202,160,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

(Get Free Report)

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.

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