Robinhood Markets (NASDAQ:HOOD) Trading Up 1.1% Following Insider Buying Activity

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price rose 1.1% on Wednesday after an insider bought additional shares in the company. The company traded as high as $76.03 and last traded at $75.77. Approximately 9,814,127 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 27,373,531 shares. The stock had previously closed at $74.95.

Specifically, Director Christopher D. Payne bought 26,500 shares of the firm’s stock in a transaction on Friday, June 13th. The stock was acquired at an average cost of $74.19 per share, with a total value of $1,966,035.00. Following the completion of the transaction, the director now directly owns 26,500 shares of the company’s stock, valued at $1,966,035. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $71.00 target price on shares of Robinhood Markets in a research report on Tuesday, May 27th. Redburn Atlantic reaffirmed a “sell” rating and issued a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. The Goldman Sachs Group raised their price target on Robinhood Markets from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, June 12th. Mizuho raised their price target on Robinhood Markets from $65.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Compass Point assumed coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price target for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Robinhood Markets Price Performance

The company has a market cap of $69.38 billion, a P/E ratio of 44.52, a price-to-earnings-growth ratio of 4.42 and a beta of 2.25. The company has a 50 day moving average of $58.45 and a 200-day moving average of $49.46.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same period in the prior year, the business posted $0.18 EPS. Robinhood Markets’s quarterly revenue was up 50.0% on a year-over-year basis. Research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC lifted its stake in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after purchasing an additional 508 shares during the last quarter. Hemington Wealth Management lifted its stake in Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 218 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Robinhood Markets during the first quarter worth about $30,000. Pandora Wealth Inc. bought a new stake in Robinhood Markets during the first quarter worth about $33,000. Finally, CoreCap Advisors LLC lifted its stake in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

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.