Robinhood Markets (NASDAQ:HOOD) Shares Up 2.9% – Here’s Why

Robinhood Markets, Inc. (NASDAQ:HOOD) shares were up 2.9% during mid-day trading on Monday . The company traded as high as $79.65 and last traded at $79.35. Approximately 24,541,336 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 30,571,977 shares. The stock had previously closed at $77.09.

Analyst Ratings Changes

Several research firms have recently commented on HOOD. Loop Capital set a $130.00 target price on Robinhood Markets in a research note on Monday, February 9th. New Street Research set a $122.00 price objective on shares of Robinhood Markets in a research note on Thursday. Bank of America decreased their price objective on shares of Robinhood Markets from $166.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Needham & Company LLC cut their target price on shares of Robinhood Markets from $135.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Robinhood Markets in a research note on Monday, December 22nd. Seventeen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $121.73.

Robinhood Markets Price Performance

The stock has a market capitalization of $71.44 billion, a price-to-earnings ratio of 38.52, a price-to-earnings-growth ratio of 1.59 and a beta of 2.47. The company has a 50-day simple moving average of $95.09 and a two-hundred day simple moving average of $114.92.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Robinhood Markets had a net margin of 42.10% and a return on equity of 22.32%. The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. Research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $107.48, for a total value of $630,262.72. Following the transaction, the chief technology officer owned 9,133 shares of the company’s stock, valued at $981,614.84. The trade was a 39.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Vladimir Tenev sold 375,000 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $121.63, for a total transaction of $45,611,250.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 475,132 shares of company stock worth $55,127,149. Company insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds have recently modified their holdings of the stock. Valley National Advisers Inc. lifted its holdings in shares of Robinhood Markets by 113.6% during the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. 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 purchasing an additional 99 shares in the last quarter. Vision Financial Markets LLC raised its holdings in Robinhood Markets by 100.0% during the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock worth $29,000 after buying an additional 100 shares during the period. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Robinhood Markets during the third quarter valued at about $29,000. Finally, Guerra Advisors Inc acquired a new position in shares of Robinhood Markets in the third quarter worth about $30,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.