Robinhood Markets (NASDAQ:HOOD) Trading Up 2.3% – Here’s Why

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) were up 2.3% during trading on Monday . The stock traded as high as $73.60 and last traded at $72.49. Approximately 25,982,230 shares traded hands during trading, a decline of 12% from the average daily volume of 29,578,816 shares. The stock had previously closed at $70.89.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HOOD shares. Bank of America decreased their price objective on shares of Robinhood Markets from $166.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Needham & Company LLC cut their price target on Robinhood Markets from $135.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Robinhood Markets in a report on Wednesday, February 11th. KeyCorp lowered their price target on Robinhood Markets from $160.00 to $130.00 and set an “overweight” rating on the stock in a research report on Monday, February 9th. Finally, The Goldman Sachs Group dropped their price objective on Robinhood Markets from $152.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Seventeen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $120.59.

Robinhood Markets Stock Up 2.3%

The firm has a market cap of $65.26 billion, a price-to-earnings ratio of 35.19, a price-to-earnings-growth ratio of 1.60 and a beta of 2.47. The company’s 50-day moving average price is $86.93 and its 200-day moving average price is $112.87.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. Robinhood Markets had a net margin of 42.10% and a return on equity of 22.32%. 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 firm earned $1.01 EPS. The company’s revenue for the quarter was up 26.5% on a year-over-year basis. Analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $75.49, for a total value 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. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vladimir Tenev sold 375,000 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $121.63, for a total value of $45,611,250.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 469,268 shares of company stock worth $54,409,454 over the last three months. 19.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds have recently modified their holdings of HOOD. Valley National Advisers Inc. grew its stake in Robinhood Markets by 113.6% during the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Robinhood Markets by 152.6% during the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock worth $26,000 after purchasing an additional 145 shares during the last quarter. CYBER HORNET ETFs LLC boosted its holdings in shares of Robinhood Markets by 527.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Robinhood Markets by 107.6% in the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after purchasing an additional 99 shares in the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $27,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.