Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report) was the target of unusually large options trading on Friday. Investors acquired 415,760 call options on the stock. This represents an increase of 34% compared to the average daily volume of 311,314 call options.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on HOOD shares. Zacks Research upgraded Robinhood Markets from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Truist Financial dropped their price objective on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Jefferies Financial Group dropped their target price on Robinhood Markets from $88.00 to $84.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Barclays dropped their target price on Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Finally, Argus dropped their target price on Robinhood Markets from $102.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $110.73.
Check Out Our Latest Analysis on Robinhood Markets
Robinhood Markets Trading Up 1.0%
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. Robinhood Markets’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. As a group, analysts predict that Robinhood Markets will post 1.83 earnings per share for the current fiscal year.
Insider Buying and Selling at Robinhood Markets
In related news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $83.68, for a total transaction of $836,800.00. Following the completion of the sale, the insider directly owned 481,396 shares in the company, valued at $40,283,217.28. This represents a 2.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 67,422 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total value of $5,082,270.36. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders purchased 680,000 shares of company stock worth $55,306,560 and sold 571,602 shares worth $41,959,746. Corporate insiders own 14.47% of the company’s stock.
Hedge Funds Weigh In On Robinhood Markets
Hedge funds have recently made changes to their positions in the stock. Sound Income Strategies LLC raised its position in shares of Robinhood Markets by 152.6% during the fourth quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock worth $26,000 after acquiring an additional 145 shares during the last quarter. CYBER HORNET ETFs LLC raised its position in shares of Robinhood Markets by 527.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after acquiring an additional 190 shares during the last quarter. Elyxium Wealth LLC bought a new position in shares of Robinhood Markets during the fourth quarter worth about $27,000. MV Capital Management Inc. bought a new position in shares of Robinhood Markets during the fourth quarter worth about $27,000. Finally, Swiss RE Ltd. bought a new position in shares of Robinhood Markets during the fourth quarter worth about $27,000. 93.27% of the stock is currently owned by institutional investors.
Trending Headlines about Robinhood Markets
Here are the key news stories impacting Robinhood Markets this week:
- Positive Sentiment: Robinhood’s securities arm received approval to underwrite IPOs, potentially expanding revenue opportunities and giving the company a bigger role in future public offerings. Robinhood Just Won Approval to Underwrite IPOs, Right Before SpaceX’s Blockbuster Market Debut. Here’s Why the Timing Matters.
- Positive Sentiment: SpaceX’s IPO sparked “record-breaking” traffic on Robinhood’s platform, highlighting heavy retail engagement and the value of its IPO-access business. Robinhood sees ‘record-breaking’ traffic after SpaceX stock debuts
- Positive Sentiment: Needham raised its price target on Robinhood to $97 and reiterated a buy rating, adding to bullish sentiment around the stock. Benzinga report on Needham price target raise
- Neutral Sentiment: Robinhood saw unusual options activity, with traders buying a much larger-than-normal volume of call options, suggesting heightened speculation around the shares.
- Neutral Sentiment: The stock also benefited from a broader lift in financial stocks and related retail brokerage names during Friday’s session. Sector Update: Financial Stocks Advance Late Afternoon
- Negative Sentiment: Robinhood’s platform experienced trading issues amid the surge in SpaceX-related demand, which could raise concerns about reliability during peak activity. HOOD Stock: Robinhood Buckles Under SpaceX IPO Demand, Users Report Trading Issues
- Negative Sentiment: ARK Invest reportedly sold shares of Robinhood, which may temper enthusiasm for some investors. HOOD Stock Gains Overnight: Cathie Wood’s ARK Sells Shares Even As Robinhood Stacks Up Fresh Catalysts
Robinhood Markets Company Profile
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.
