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

Robinhood Markets, Inc. (NASDAQ:HOOD – Get Rating) was the target of some unusual options trading on Thursday. Investors acquired 143,488 call options on the stock. This is an increase of approximately 34% compared to the average daily volume of 107,108 call options.

Insider Activity at Robinhood Markets

In other news, Director Scott D. Sandell sold 8,792 shares of Robinhood Markets stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $8.41, for a total value of $73,940.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Vladimir Tenev sold 118,142 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $9.10, for a total transaction of $1,075,092.20. Following the completion of the sale, the chief executive officer now directly owns 1,383,006 shares of the company’s stock, valued at $12,585,354.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Scott D. Sandell sold 8,792 shares of the stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $8.41, for a total value of $73,940.72. The disclosure for this sale can be found here. Insiders sold 332,249 shares of company stock valued at $3,038,560 over the last 90 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in shares of Robinhood Markets in the fourth quarter valued at $27,000. Covestor Ltd bought a new stake in Robinhood Markets in the 1st quarter valued at $28,000. Prospera Financial Services Inc acquired a new position in shares of Robinhood Markets in the 1st quarter valued at $29,000. CWM LLC bought a new position in shares of Robinhood Markets during the 2nd quarter worth about $33,000. Finally, Kellogg W K Foundation Trust acquired a new stake in shares of Robinhood Markets during the 4th quarter valued at about $46,000. Institutional investors own 64.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HOOD. KeyCorp reduced their target price on Robinhood Markets from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, August 1st. JPMorgan Chase & Co. decreased their price objective on Robinhood Markets from $11.00 to $7.00 in a research report on Tuesday, June 14th. Mizuho dropped their target price on Robinhood Markets from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday. Wolfe Research decreased their price target on shares of Robinhood Markets from $15.00 to $10.00 in a report on Friday, April 29th. Finally, Morgan Stanley lowered their price objective on shares of Robinhood Markets from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 19th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.19.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $10.40 on Friday. Robinhood Markets has a one year low of $6.81 and a one year high of $60.88. The company has a fifty day moving average price of $8.64 and a 200 day moving average price of $10.75. The stock has a market cap of $9.07 billion and a P/E ratio of -1.19.

Robinhood Markets Company Profile

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Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron's, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade.