Robinhood Markets (NASDAQ:HOOD) Stock Price Up 2.9% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price traded up 2.9% on Tuesday . The company traded as high as $37.85 and last traded at $36.42. 22,840,612 shares were traded during trading, a decline of 0% from the average session volume of 22,875,146 shares. The stock had previously closed at $35.41.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HOOD. Morgan Stanley lowered Robinhood Markets from an “overweight” rating to an “equal weight” rating and set a $40.00 target price on the stock. in a research report on Tuesday. Barclays cut their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday. Cantor Fitzgerald began coverage on shares of Robinhood Markets in a research note on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price objective for the company. KeyCorp increased their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Raymond James initiated coverage on Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating for the company. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $55.06.

Robinhood Markets Trading Down 2.2 %

The company has a market capitalization of $30.65 billion, a PE ratio of 22.14, a P/E/G ratio of 1.05 and a beta of 2.17. The firm has a 50 day simple moving average of $47.91 and a two-hundred day simple moving average of $39.02.

Robinhood Markets (NASDAQ:HOOD) last issued its 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 net margin of 47.81% and a return on equity of 13.53%. Research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Baiju Bhatt sold 90,866 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $45.27, for a total transaction of $4,113,503.82. Following the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $228,251.34. This trade represents a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,646,134 shares of company stock worth $132,604,246 in the last three months. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently made changes to their positions in the business. New Wave Wealth Advisors LLC acquired a new position in Robinhood Markets in the fourth quarter valued at $26,000. CoreCap Advisors LLC grew its holdings in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV increased its position in Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares in the last quarter. Colonial Trust Co SC purchased a new position in Robinhood Markets in the fourth quarter valued at approximately $34,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Robinhood Markets by 139.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock valued at $36,000 after buying an additional 498 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.