Robinhood Markets (NASDAQ:HOOD) Shares Up 2.3% – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD) traded up 2.3% during trading on Tuesday . The company traded as high as $120.43 and last traded at $120.24. 19,477,467 shares traded hands during trading, a decline of 6% from the average session volume of 20,755,727 shares. The stock had previously closed at $117.52.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. CICC Research started coverage on shares of Robinhood Markets in a report on Monday, October 27th. They set an “outperform” rating and a $155.00 price target for the company. Loop Capital set a $152.00 price objective on shares of Robinhood Markets in a research report on Thursday, December 11th. JMP Securities lifted their target price on Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 9th. Cantor Fitzgerald cut their price target on Robinhood Markets from $155.00 to $152.00 and set an “overweight” rating on the stock in a research note on Thursday, December 11th. Finally, KeyCorp lifted their price objective on Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $136.62.

Robinhood Markets Stock Performance

The company has a market cap of $108.12 billion, a P/E ratio of 49.89, a P/E/G ratio of 1.75 and a beta of 2.44. The business has a fifty day simple moving average of $122.72 and a 200 day simple moving average of $118.76.

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

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of Robinhood Markets stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $132.13, for a total value of $15,855,600.00. Following the completion of the transaction, the insider directly owned 430,012 shares of the company’s stock, valued at approximately $56,817,485.56. The trade was a 21.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 49,942 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $131.15, for a total transaction of $6,549,893.30. Following the sale, the insider directly owned 54,496 shares of the company’s stock, valued at approximately $7,147,150.40. This represents a 47.82% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 3,296,763 shares of company stock valued at $414,016,996. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Hedge funds have recently made changes to their positions in the stock. North Star Investment Management Corp. lifted its stake in Robinhood Markets by 44.9% during the third quarter. North Star Investment Management Corp. now owns 255 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares during the period. First Command Advisory Services Inc. grew its stake in shares of Robinhood Markets by 33.8% in the 3rd quarter. First Command Advisory Services Inc. now owns 321 shares of the company’s stock valued at $46,000 after purchasing an additional 81 shares during the period. CogentBlue Wealth Advisors LLC raised its holdings in shares of Robinhood Markets by 3.8% in the 3rd quarter. CogentBlue Wealth Advisors LLC now owns 2,391 shares of the company’s stock worth $342,000 after buying an additional 87 shares in the last quarter. Evolution Wealth Advisors LLC lifted its position in shares of Robinhood Markets by 5.2% during the 4th quarter. Evolution Wealth Advisors LLC now owns 1,916 shares of the company’s stock worth $217,000 after buying an additional 95 shares during the period. Finally, ORG Partners LLC boosted its stake in Robinhood Markets by 5.5% in the 3rd quarter. ORG Partners LLC now owns 1,876 shares of the company’s stock valued at $269,000 after buying an additional 97 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

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.