Robinhood Markets (NASDAQ:HOOD) Stock Price Up 7.5% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD) rose 7.5% on Thursday . The company traded as high as $52.81 and last traded at $52.50. Approximately 21,939,768 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 27,162,523 shares. The stock had previously closed at $48.85.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Morgan Stanley raised their price objective on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Mizuho lifted their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. JMP Securities upped their price objective on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th. Barclays increased their price objective on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Piper Sandler upped their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.53.

Robinhood Markets Stock Down 0.1 %

The stock has a 50-day moving average of $47.87 and a 200 day moving average of $34.56. The stock has a market cap of $43.12 billion, a PE ratio of 31.07, a P/E/G ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of Robinhood Markets stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total value of $11,253,000.00. Following the sale, the insider now owns 806,955 shares in the company, valued at $30,268,882.05. The trade was a 27.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the transaction, the director now owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. This represents a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,643,879 shares of company stock valued at $207,663,007 over the last ninety days. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several large investors have recently made changes to their positions in HOOD. MetLife Investment Management LLC lifted its stake in Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock worth $440,000 after purchasing an additional 171 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after buying an additional 233 shares during the period. First Horizon Advisors Inc. lifted its stake in Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after acquiring an additional 277 shares in the last quarter. HM Payson & Co. boosted its holdings in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the period. Finally, Commerce Bank grew its position in Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after acquiring an additional 423 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.