Robinhood Markets (NASDAQ:HOOD) Trading Up 4.9% – What’s Next?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) were up 4.9% on Monday . The company traded as high as $81.14 and last traded at $80.7910. Approximately 26,085,606 shares were traded during trading, a decline of 14% from the average daily volume of 30,383,344 shares. The stock had previously closed at $77.03.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on HOOD shares. KeyCorp reduced their target price on Robinhood Markets from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Citizens Jmp reiterated a “market outperform” rating and set a $155.00 target price on shares of Robinhood Markets in a report on Wednesday, April 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $110.00 price objective on shares of Robinhood Markets in a research note on Wednesday, April 29th. Loop Capital set a $130.00 price objective on shares of Robinhood Markets in a research note on Monday, February 9th. Finally, Mizuho boosted their price objective on shares of Robinhood Markets from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.88.

Robinhood Markets Price Performance

The firm’s 50 day moving average is $76.44 and its 200 day moving average is $100.98. The firm has a market cap of $72.75 billion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 2.52 and a beta of 2.29.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The company’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. As a group, analysts expect that Robinhood Markets, Inc. will post 1.86 EPS for the current year.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $76.89, for a total value of $768,900.00. Following the transaction, the insider owned 432,849 shares in the company, valued at approximately $33,281,759.61. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Tenev sold 375,000 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $69.83, for a total transaction of $26,186,250.00. Following the completion of the transaction, the chief executive officer owned 375,000 shares in the company, valued at approximately $26,186,250. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 487,907 shares of company stock valued at $35,444,040. 19.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC lifted its position in Robinhood Markets by 107.6% during the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after purchasing an additional 99 shares during the period. Vision Financial Markets LLC lifted its position in Robinhood Markets by 100.0% during the third quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Robinhood Markets during the third quarter valued at approximately $29,000. Guerra Advisors Inc bought a new position in Robinhood Markets during the third quarter valued at approximately $30,000. Finally, CYBER HORNET ETFs LLC lifted its position in Robinhood Markets by 527.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after purchasing an additional 190 shares during the period. Institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.