Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report) saw some unusual options trading activity on Thursday. Stock traders acquired 363,054 call options on the stock. This represents an increase of approximately 19% compared to the typical volume of 305,351 call options.
Key Robinhood Markets News
Here are the key news stories impacting Robinhood Markets this week:
- Positive Sentiment: Robinhood launched Robinhood Chain, a new Ethereum-based layer-2 blockchain built with Arbitrum Orbit, aimed at tokenized assets and onchain financial products. That expands Robinhood’s crypto ambitions and could open new revenue opportunities. Robinhood shares rise on launch of new blockchain network
- Positive Sentiment: Analysts turned more constructive, with Mizuho reportedly raising its price target to $130 and calling Robinhood a potential “hyperscaler” in online brokerage, while BTIG also reaffirmed a buy rating with a $125 target. Robinhood stock to soar as it becomes the first hyperscaler of online brokerages
- Positive Sentiment: Robinhood’s London event highlighted new AI-powered crypto trading tools, expanded perpetual futures in Europe, and plans to enter markets like the UK, Canada, and Singapore, signaling broader product and geographic growth. Robinhood expands perpetual futures offering in Europe, plans crypto launch in UK
- Positive Sentiment: Robinhood said its AI agent set a Guinness World Record for the most items purchased by an AI agent in three minutes, reinforcing its push into AI-enabled investing tools. AI agents will have capability of human traders, Robinhood CEO tells CNBC
- Neutral Sentiment: CEO Vlad Tenev also made broader comments about retail investing adoption in the UK and the future capabilities of AI traders, which support the long-term narrative but are less immediate catalysts.
Robinhood Markets Stock Up 3.1%
Shares of HOOD stock traded up $3.42 during trading on Thursday, hitting $112.07. The company had a trading volume of 32,197,384 shares, compared to its average volume of 30,427,176. The stock’s 50-day moving average is $86.69 and its two-hundred day moving average is $89.49. The stock has a market capitalization of $100.92 billion, a price-to-earnings ratio of 54.26, a price-to-earnings-growth ratio of 2.36 and a beta of 2.33. Robinhood Markets has a 52 week low of $63.51 and a 52 week high of $153.86.
Insider Activity at Robinhood Markets
In related news, Director Meyer Malka purchased 250,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $80.74 per share, with a total value of $20,185,000.00. Following the completion of the purchase, the director owned 3,924,427 shares in the company, valued at approximately $316,858,235.98. This trade represents a 6.80% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 375,000 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $69.83, for a total value of $26,186,250.00. Following the sale, the chief executive officer owned 375,000 shares of the company’s stock, valued at approximately $26,186,250. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have acquired 680,000 shares of company stock worth $55,306,560 and have sold 633,484 shares worth $47,542,923. 14.47% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in HOOD. Truist Financial Corp increased its holdings in shares of Robinhood Markets by 88.9% during the fourth quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock valued at $16,455,000 after acquiring an additional 68,458 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Robinhood Markets by 86.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock valued at $11,406,000 after purchasing an additional 46,688 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Robinhood Markets by 26.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 365,551 shares of the company’s stock valued at $44,477,000 after purchasing an additional 76,075 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Robinhood Markets by 196.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 722,857 shares of the company’s stock valued at $81,755,000 after purchasing an additional 478,919 shares during the last quarter. Finally, Capital Wealth Planning LLC lifted its holdings in shares of Robinhood Markets by 238.5% in the 3rd quarter. Capital Wealth Planning LLC now owns 48,438 shares of the company’s stock worth $6,935,000 after acquiring an additional 34,129 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. Needham & Company LLC increased their target price on shares of Robinhood Markets from $85.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Mizuho increased their price target on Robinhood Markets from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday. Piper Sandler restated an “overweight” rating on shares of Robinhood Markets in a research note on Thursday. Zacks Research raised Robinhood Markets from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Barclays cut their price target on shares of Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.00.
Get Our Latest Stock Report on HOOD
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.
Read More
- Five stocks we like better than Robinhood Markets
- Shorting the Grid: Bloom Energy’s $25B AI Power Play
- SanDisk’s Volatility May Be Telling Bulls What They Want to Hear
- Meta’s AI Compute Push Could Turn Its Massive CapEx Bill Into a Competitive Weapon
- 3 Dividend ETFs Built for Stability in a Volatile Market
Receive News & Ratings for Robinhood Markets Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Robinhood Markets and related companies with MarketBeat.com's FREE daily email newsletter.
