Robinhood Markets (NASDAQ:HOOD) Trading Up 0.4% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD) traded up 0.4% during mid-day trading on Tuesday . The company traded as high as $65.28 and last traded at $64.55. 12,506,814 shares changed hands during trading, a decline of 52% from the average session volume of 26,271,336 shares. The stock had previously closed at $64.27.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HOOD. Raymond James initiated coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating on the stock. Citigroup reduced their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. KeyCorp lowered their price target on shares of Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Compass Point started coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price objective for the company. Finally, The Goldman Sachs Group upped their target price on Robinhood Markets from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.41.

Robinhood Markets Price Performance

The stock has a market cap of $57.55 billion, a PE ratio of 41.23, a PEG ratio of 1.05 and a beta of 2.15. The firm has a 50-day moving average of $45.78 and a 200-day moving average of $44.07.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business had revenue of $927.00 million during the quarter, compared to analysts’ expectations of $917.12 million. During the same period last year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was up 50.0% compared to the same quarter last year. Equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $34.51, for a total value of $201,987.03. Following the completion of the sale, the chief technology officer now directly owns 5,853 shares of the company’s stock, valued at $201,987.03. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 107,608 shares of Robinhood Markets stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $60.41, for a total value of $6,500,599.28. Following the sale, the director now directly owns 7,863 shares of the company’s stock, valued at approximately $475,003.83. This trade represents a 93.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,897,622 shares of company stock worth $86,956,156. Corporate insiders own 14.47% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently modified their holdings of the business. MetLife Investment Management LLC grew its holdings in shares of Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock valued at $440,000 after buying an additional 171 shares during the last quarter. Cigna Investments Inc. New grew its position in Robinhood Markets by 2.7% during the 1st quarter. Cigna Investments Inc. New now owns 6,730 shares of the company’s stock worth $280,000 after purchasing an additional 174 shares during the period. Hemington Wealth Management raised its stake in shares of Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 218 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after buying an additional 233 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Robinhood Markets by 4.0% during the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company’s stock worth $290,000 after acquiring an additional 265 shares during the period. Institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

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.