Robinhood Markets (NASDAQ:HOOD) Stock Price Up 11.3% – What’s Next?

by · The Cerbat Gem

Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report) shares were up 11.3% on Thursday . The stock traded as high as $84.92 and last traded at $84.84. Approximately 43,585,207 shares were traded during mid-day trading, an increase of 48% from the average daily volume of 29,387,285 shares. The stock had previously closed at $76.23.

Key Stories Impacting Robinhood Markets

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on HOOD shares. Citizens Jmp restated a “market outperform” rating and issued a $155.00 target price on shares of Robinhood Markets in a report on Thursday. Jefferies Financial Group reduced their target price on Robinhood Markets from $88.00 to $84.00 and set a “buy” rating for the company in a report on Monday, April 6th. Sanford C. Bernstein restated an “outperform” rating and issued a $130.00 target price on shares of Robinhood Markets in a report on Tuesday, April 14th. Citigroup restated a “market outperform” rating on shares of Robinhood Markets in a report on Thursday. Finally, Truist Financial reduced their target price on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, April 13th. Nineteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $106.38.

Read Our Latest Stock Analysis on HOOD

Robinhood Markets Stock Performance

The stock has a 50-day simple moving average of $76.09 and a 200 day simple moving average of $94.83. The company has a market cap of $76.40 billion, a P/E ratio of 40.99, a P/E/G ratio of 2.25 and a beta of 2.29.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 earnings per share. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 67,422 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total value of $5,082,270.36. The sale 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. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $76.89, for a total value of $768,900.00. Following the completion of the transaction, the insider owned 432,849 shares of the company’s stock, valued at $33,281,759.61. The trade was a 2.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 560,765 shares of company stock valued at $40,946,840 in the last ninety days. 14.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HOOD. Sound Income Strategies LLC raised its stake in Robinhood Markets by 152.6% during the fourth quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock worth $26,000 after acquiring an additional 145 shares in the last quarter. CYBER HORNET ETFs LLC raised its stake in Robinhood Markets by 527.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after acquiring an additional 190 shares in the last quarter. Golden State Wealth Management LLC raised its stake in Robinhood Markets by 107.6% during the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after acquiring an additional 99 shares in the last quarter. Elyxium Wealth LLC acquired a new position in Robinhood Markets during the fourth quarter worth $27,000. Finally, MV Capital Management Inc. acquired a new position in Robinhood Markets during the fourth quarter worth $27,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Articles