Robinhood Markets (NASDAQ:HOOD) Shares Up 1.3% – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD) shot up 1.3% on Monday . The company traded as high as $95.95 and last traded at $94.52. 11,836,227 shares traded hands during trading, a decline of 59% from the average session volume of 28,730,578 shares. The stock had previously closed at $93.29.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HOOD. Needham & Company LLC cut their target price on Robinhood Markets from $123.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. The Goldman Sachs Group decreased their price target on shares of Robinhood Markets from $137.00 to $118.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Sanford C. Bernstein boosted their price objective on shares of Robinhood Markets from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. BTIG Research reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Robinhood Markets in a research note on Thursday, July 30th. Finally, Barclays reduced their target price on shares of Robinhood Markets from $122.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Twenty-one research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and a consensus price target of $120.52.

Robinhood Markets Price Performance

The company has a market capitalization of $85.50 billion, a PE ratio of 41.89, a PEG ratio of 1.85 and a beta of 2.35. The firm has a fifty day moving average of $99.37 and a two-hundred day moving average of $86.50. 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 (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the firm earned $0.42 EPS. The business’s quarterly revenue was up 32.5% on a year-over-year basis. Research analysts anticipate that Robinhood Markets, Inc. will post 2.02 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, insider Steven M. Quirk sold 19,377 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $119.96, for a total transaction of $2,324,464.92. Following the completion of the sale, the insider directly owned 62,612 shares in the company, valued at $7,510,935.52. This represents a 23.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 the company’s 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 directly owned 3,924,427 shares in the company, valued at $316,858,235.98. This trade represents a 6.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 680,000 shares of company stock valued at $55,306,560 and have sold 631,263 shares valued at $66,929,157. Company insiders own 13.48% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Robinhood Markets by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company’s stock valued at $10,831,756,000 after purchasing an additional 1,334,443 shares during the period. State Street Corp grew its position in shares of Robinhood Markets by 2.7% in the 4th quarter. State Street Corp now owns 33,121,452 shares of the company’s stock worth $3,746,036,000 after buying an additional 875,297 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Robinhood Markets by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock worth $2,386,944,000 after buying an additional 356,902 shares during the last quarter. Morgan Stanley increased its stake in shares of Robinhood Markets by 23.9% during the fourth quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock valued at $1,208,335,000 after buying an additional 2,061,832 shares during the period. Finally, Norges Bank purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $1,202,160,000. 93.27% of the stock is owned by institutional investors.

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.