Robinhood Markets (NASDAQ:HOOD) Issues Quarterly Earnings Results

Robinhood Markets (NASDAQ:HOOD) announced its quarterly earnings data on Wednesday. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13, Zacks reports. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded up $2.57 during midday trading on Wednesday, hitting $55.91. The company’s stock had a trading volume of 38,215,506 shares, compared to its average volume of 21,239,521. The business’s 50 day simple moving average is $44.16 and its 200 day simple moving average is $31.73. The company has a market cap of $49.42 billion, a P/E ratio of 94.76, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. Robinhood Markets has a 12-month low of $11.43 and a 12-month high of $57.27.

Insider Buying and Selling at Robinhood Markets

In other news, insider Steven M. Quirk sold 19,861 shares of the company’s stock in a transaction that occurred on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total value of $745,581.94. Following the transaction, the insider now directly owns 395,166 shares in the company, valued at approximately $14,834,531.64. This represents a 4.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total transaction of $477,750.00. Following the completion of the sale, the insider now owns 1,106,955 shares of the company’s stock, valued at $42,307,820.10. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,948,427 shares of company stock worth $165,005,244 in the last three months. 19.95% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays increased their price target on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Keefe, Bruyette & Woods boosted their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Piper Sandler boosted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Finally, Morgan Stanley raised their target price on Robinhood Markets from $55.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.67.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.