Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report) insider Steven Quirk sold 24,416 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $120.33, for a total value of $2,937,977.28. Following the sale, the insider directly owned 77,839 shares of the company’s stock, valued at $9,366,366.87. This represents a 23.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Robinhood Markets Trading Down 2.1%
HOOD stock traded down $2.61 during mid-day trading on Friday, reaching $122.11. The company’s stock had a trading volume of 23,666,124 shares, compared to its average volume of 27,894,412. The company has a market cap of $109.79 billion, a price-to-earnings ratio of 53.79, a price-to-earnings-growth ratio of 2.19 and a beta of 2.34. The business’s 50 day moving average price is $102.27 and its 200 day moving average price is $88.02. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23. Robinhood Markets, Inc. has a 12 month low of $63.51 and a 12 month high of $153.86.
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 EPS. On average, equities research analysts predict that Robinhood Markets, Inc. will post 2.08 EPS for the current year.
Hedge Funds Weigh In On Robinhood Markets
Analyst Ratings Changes
HOOD has been the topic of several research analyst reports. Loop Capital set a $105.00 target price on shares of Robinhood Markets in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of Robinhood Markets from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Needham & Company LLC cut their price objective on shares of Robinhood Markets from $123.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Citizens Jmp restated a “market outperform” rating and issued a $155.00 target price on shares of Robinhood Markets in a research note on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday, June 24th. Twenty-three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $122.67.
Check Out Our Latest Analysis on Robinhood Markets
Key Stories Impacting Robinhood Markets
Here are the key news stories impacting Robinhood Markets this week:
- Positive Sentiment: Analyst sentiment remains supportive. Scotiabank initiated coverage with a bullish view, while Piper Sandler raised its price target to $145 and expects football-related event contracts to increase activity. Robinhood generated $156 million from event contracts in the second quarter. Robinhood Stock Jumps After Wave of Analysts Upgrade
- Positive Sentiment: Robinhood Chain and crypto activity are emerging growth drivers. The new blockchain reportedly generated about $3.8 million in fees on September 1, while the company now has 13 business lines with more than $100 million in annualized revenue. Deutsche Bank also sees potential upside from Robinhood’s latest crypto initiatives. Robinhood Now Runs 13 Revenue Lines Above $100 Million a Year
- Positive Sentiment: CEO Vlad Tenev said Robinhood’s newly launched Trust Accounts have attracted more than $150 million since August, suggesting early customer demand for the offering. Robinhood Trust Accounts Now Have Over $150 Million
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.
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