Robinhood Markets (NASDAQ:HOOD) Trading 3.9% Higher – Here’s Why

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price traded up 3.9% during trading on Monday . The company traded as high as $79.54 and last traded at $78.78. 26,529,243 shares were traded during trading, a decline of 13% from the average session volume of 30,499,830 shares. The stock had previously closed at $75.85.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays cut their price target on Robinhood Markets from $159.00 to $124.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Piper Sandler cut their target price on shares of Robinhood Markets from $155.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Dbs Bank raised shares of Robinhood Markets to a “moderate buy” rating in a report on Wednesday, November 12th. Keefe, Bruyette & Woods increased their price target on shares of Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Robinhood Markets in a research report on Monday, December 22nd. Seventeen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.71.

Robinhood Markets Trading Up 3.9%

The stock has a 50 day simple moving average of $99.23 and a 200-day simple moving average of $116.03. The firm has a market cap of $70.93 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 1.53 and a beta of 2.47.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03. Robinhood Markets had a return on equity of 22.32% and a net margin of 42.10%.The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business earned $1.01 earnings per share. The business’s revenue was up 26.5% on a year-over-year basis. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In related news, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $132.13, for a total transaction of $15,855,600.00. Following the completion of the transaction, the insider owned 430,012 shares in the company, valued at approximately $56,817,485.56. This represents a 21.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 375,000 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $121.63, for a total transaction of $45,611,250.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 640,939 shares of company stock valued at $77,553,447. 19.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HOOD. Reflection Asset Management bought a new stake in shares of Robinhood Markets in the fourth quarter worth about $101,000. Anchor Investment Management LLC purchased a new position in Robinhood Markets during the 4th quarter valued at approximately $68,000. Banque Transatlantique SA grew its holdings in Robinhood Markets by 32.2% during the 4th quarter. Banque Transatlantique SA now owns 15,000 shares of the company’s stock valued at $1,697,000 after buying an additional 3,656 shares in the last quarter. MidFirst Bank bought a new stake in Robinhood Markets in the 4th quarter worth approximately $426,000. Finally, Floyd Financial Group LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter worth approximately $991,000. Institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

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.