Robinhood Markets Sees Unusually High Options Volume (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD) was the target of unusually large options trading on Wednesday. Stock traders purchased 526,399 call options on the stock. This represents an increase of approximately 33% compared to the typical daily volume of 396,006 call options.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 114,175 shares of the company’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $101.65, for a total transaction of $11,605,888.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven M. Quirk sold 92,257 shares of the company’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total value of $7,838,154.72. Following the sale, the insider owned 136,364 shares in the company, valued at $11,585,485.44. The trade was a 40.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,364,145 shares of company stock valued at $181,837,741 in the last ninety days. Insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds have recently bought and sold shares of the business. Whipplewood Advisors LLC grew its position 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 buying an additional 508 shares in the last quarter. Hemington Wealth Management grew its position 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 buying an additional 218 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Robinhood Markets during the first quarter worth approximately $30,000. CoreCap Advisors LLC grew its position 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 buying an additional 550 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its position in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after buying an additional 750 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HOOD shares. Morgan Stanley upped their target price on Robinhood Markets from $43.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $71.00 target price on shares of Robinhood Markets in a report on Tuesday, May 27th. KeyCorp boosted their price target on Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Finally, Piper Sandler boosted their price target on Robinhood Markets from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.29.

Robinhood Markets Price Performance

HOOD stock opened at $105.45 on Friday. The stock has a market capitalization of $93.37 billion, a price-to-earnings ratio of 59.92, a PEG ratio of 5.26 and a beta of 2.36. The business’s fifty day moving average price is $77.63 and its two-hundred day moving average price is $57.05. Robinhood Markets has a fifty-two week low of $13.98 and a fifty-two week high of $106.64.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. 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 earnings per share. Robinhood Markets’s revenue was up 50.0% compared to the same quarter last year. Research analysts expect that Robinhood Markets will post 1.35 EPS for the current year.

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.