Investors Buy High Volume of Robinhood Markets Call Options (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD) was the recipient of unusually large options trading activity on Wednesday. Traders bought 174,025 call options on the stock. This represents an increase of approximately 44% compared to the average daily volume of 121,260 call options.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $28.21 on Thursday. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $28.58. The stock’s 50-day moving average is $23.32 and its two-hundred day moving average is $21.34. The firm has a market cap of $24.96 billion, a P/E ratio of 85.48 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The business had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. During the same period last year, the business earned $0.03 EPS. The firm’s revenue was up 40.3% compared to the same quarter last year. On average, equities analysts expect that Robinhood Markets will post 0.74 EPS for the current year.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 98,404 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $26.40, for a total value of $2,597,865.60. Following the sale, the director now directly owns 2,521 shares in the company, valued at $66,554.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Baiju Bhatt sold 98,404 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the completion of the transaction, the director now owns 2,521 shares in the company, valued at $66,554.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,639,654 shares of company stock worth $110,241,632. Insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Several large investors have recently modified their holdings of the company. HM Payson & Co. lifted its position in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares during the last quarter. Signaturefd LLC lifted its position in shares of Robinhood Markets by 16.5% during the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after purchasing an additional 487 shares during the last quarter. Castleview Partners LLC lifted its position in shares of Robinhood Markets by 18.2% during the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock worth $89,000 after purchasing an additional 582 shares during the last quarter. Angeles Wealth Management LLC boosted its stake in Robinhood Markets by 5.3% during the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock valued at $246,000 after purchasing an additional 610 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Robinhood Markets by 44.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after buying an additional 710 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HOOD shares. Bank of America lifted their target price on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. KeyCorp lifted their target price on Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Morgan Stanley increased their price target on Robinhood Markets from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their price objective on Robinhood Markets from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, Barclays raised their target price on shares of Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Hold” and a consensus price target of $24.97.

Robinhood Markets Company Profile

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.