Robinhood Markets Sees Unusually High Options Volume (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD) was the target of some unusual options trading activity on Thursday. Stock investors bought 192,408 call options on the company. This is an increase of approximately 30% compared to the average volume of 148,066 call options.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler boosted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their target price for the company from $40.00 to $46.00 in a research note on Friday. KeyCorp boosted their target price on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Sanford C. Bernstein boosted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $35.80.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $41.67 on Friday. The company’s 50 day simple moving average is $29.73 and its 200 day simple moving average is $24.19. Robinhood Markets has a 12 month low of $10.38 and a 12 month high of $42.76. The company has a market capitalization of $36.84 billion, a P/E ratio of 65.97, a PEG ratio of 0.90 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, analysts anticipate that Robinhood Markets will post 0.74 earnings per share for the current year.

Insider Activity

In related news, Director Baiju Bhatt sold 139,916 shares of Robinhood Markets stock in a transaction on Monday, September 9th. The shares were sold at an average price of $19.55, for a total transaction of $2,735,357.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Meyer Malka sold 1,535,681 shares of Robinhood Markets stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the sale, the director now directly owns 4,974,238 shares in the company, valued at $199,516,686.18. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,991,091 shares of company stock valued at $172,716,066. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently made changes to their positions in the business. Baker Avenue Asset Management LP raised its holdings in shares of Robinhood Markets by 77.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after purchasing an additional 203,354 shares in the last quarter. Bridgewater Associates LP raised its holdings in shares of Robinhood Markets by 100.4% during the third quarter. Bridgewater Associates LP now owns 330,956 shares of the company’s stock valued at $7,751,000 after acquiring an additional 165,791 shares during the period. EULAV Asset Management raised its holdings in shares of Robinhood Markets by 22.2% during the third quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock valued at $12,881,000 after acquiring an additional 100,000 shares during the period. Blueshift Asset Management LLC raised its holdings in shares of Robinhood Markets by 376.5% during the third quarter. Blueshift Asset Management LLC now owns 144,941 shares of the company’s stock valued at $3,395,000 after acquiring an additional 114,525 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in shares of Robinhood Markets during the third quarter valued at approximately $770,000. 93.27% of the stock is currently owned by institutional investors.

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.