Robinhood Markets (NASDAQ:HOOD) Trading Up 3.3% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOODGet Free Report)’s share price was up 3.3% during mid-day trading on Tuesday . The stock traded as high as $113.69 and last traded at $113.45. Approximately 17,595,065 shares were traded during trading, a decline of 41% from the average session volume of 29,983,734 shares. The stock had previously closed at $109.86.

Key Stories Impacting Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

Analyst Ratings Changes

Several research analysts recently weighed in on HOOD shares. Zacks Research raised shares of Robinhood Markets from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Robinhood Markets from $105.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a report on Thursday, July 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Finally, Wall Street Zen raised Robinhood Markets from a “strong sell” rating to a “sell” rating in a research note on Sunday. Twenty-one investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

View Our Latest Stock Report on Robinhood Markets

Robinhood Markets Stock Performance

The firm has a market capitalization of $102.16 billion, a P/E ratio of 54.81, a PEG ratio of 2.41 and a beta of 2.33. The firm’s 50-day moving average is $91.75 and its 200 day moving average is $89.18.

Robinhood Markets (NASDAQ:HOODGet Free Report) last released its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the company posted $0.37 EPS. Robinhood Markets’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, research analysts expect that Robinhood Markets, Inc. will post 1.88 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $83.68, for a total value of $836,800.00. Following the sale, the insider owned 481,396 shares in the company, valued at approximately $40,283,217.28. The trade was a 2.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka purchased 250,000 shares of Robinhood Markets stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $80.74 per share, with a total value of $20,185,000.00. Following the transaction, the director owned 3,924,427 shares in the company, valued at approximately $316,858,235.98. The trade was a 6.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 680,000 shares of company stock valued at $55,306,560 and sold 659,112 shares valued at $68,741,158. 13.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HOOD. Truist Financial Corp boosted its holdings in shares of Robinhood Markets by 88.9% in the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock valued at $16,455,000 after buying an additional 68,458 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Robinhood Markets by 86.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock worth $11,406,000 after buying an additional 46,688 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Robinhood Markets by 26.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 365,551 shares of the company’s stock worth $44,477,000 after buying an additional 76,075 shares during the last quarter. Nomura Asset Management Co. Ltd. raised 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 worth $81,755,000 after acquiring an additional 478,919 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Robinhood Markets by 5.2% during the fourth quarter. Nordea Investment Management AB now owns 712,721 shares of the company’s stock worth $81,585,000 after acquiring an additional 35,471 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

(Get Free Report)

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.

Further Reading

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