Robinhood Markets (NASDAQ:HOOD) Trading Up 4.9% – What’s Next?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) traded up 4.9% during trading on Monday . The company traded as high as $81.14 and last traded at $80.7910. 26,085,606 shares were traded during trading, a decline of 14% from the average session volume of 30,383,344 shares. The stock had previously closed at $77.03.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group reduced their target price on shares of Robinhood Markets from $88.00 to $84.00 and set a “buy” rating for the company in a report on Monday, April 6th. Citizens Jmp reaffirmed a “market outperform” rating and set a $155.00 target price on shares of Robinhood Markets in a report on Wednesday, April 29th. Morgan Stanley reduced their price objective on shares of Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating for the company in a research note on Friday, April 10th. Needham & Company LLC reduced their price objective on shares of Robinhood Markets from $95.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods cut their price target on Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a report on Wednesday, April 29th. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.88.

Robinhood Markets Stock Performance

The company’s fifty day moving average price is $76.44 and its 200-day moving average price is $100.98. The stock has a market cap of $72.75 billion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 2.52 and a beta of 2.29.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.Robinhood Markets’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 EPS. Analysts anticipate that Robinhood Markets, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,835 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $83.92, for a total value of $489,673.20. Following the completion of the sale, the chief technology officer owned 12,171 shares in the company, valued at approximately $1,021,390.32. This trade represents a 32.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 57,261 shares of the firm’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $86.38, for a total transaction of $4,946,205.18. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 487,907 shares of company stock worth $35,444,040. 19.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. First Command Advisory Services Inc. increased its stake in Robinhood Markets by 33.8% in the 3rd quarter. First Command Advisory Services Inc. now owns 321 shares of the company’s stock worth $46,000 after buying an additional 81 shares during the period. Evolution Wealth Advisors LLC increased its stake in Robinhood Markets by 5.2% in 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. ORG Partners LLC increased 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 worth $269,000 after buying an additional 97 shares during the period. CogentBlue Wealth Advisors LLC increased its stake in Robinhood Markets by 4.1% in the 4th quarter. CogentBlue Wealth Advisors LLC now owns 2,489 shares of the company’s stock worth $282,000 after buying an additional 98 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in Robinhood Markets by 107.6% in the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after buying an additional 99 shares during the period. Hedge funds and other 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.