Robinhood Markets (NASDAQ:HOOD) Shares Up 1.1% After Insider Buying Activity

Robinhood Markets, Inc. (NASDAQ:HOODGet Free Report)’s stock price shot up 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. 9,814,127 shares traded hands during mid-day trading, a decline of 64% from the average session 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 that occurred on Friday, June 13th. The stock was acquired at an average price of $74.19 per share, with a total value of $1,966,035.00. Following the completion of the transaction, the director now owns 26,500 shares in the company, valued at approximately $1,966,035. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HOOD shares. KeyCorp decreased their target price on shares of Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Mizuho lifted their price objective on shares of Robinhood Markets from $65.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday. Redburn Atlantic reissued a “sell” rating and issued a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Finally, Cantor Fitzgerald decreased their price objective on shares of Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Read Our Latest Research Report on Robinhood Markets

Robinhood Markets Trading Up 4.5%

The firm’s 50 day simple moving average is $59.21 and its two-hundred day simple moving average is $49.74. The firm has a market cap of $69.38 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 4.62 and a beta of 2.25.

Robinhood Markets (NASDAQ:HOODGet Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. Robinhood Markets’s revenue for the quarter was up 50.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently made changes to their positions in the company. Whipplewood Advisors LLC raised its position in shares of Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock valued at $25,000 after buying an additional 508 shares in the last quarter. Hemington Wealth Management raised its position in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 218 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Robinhood Markets in the 1st quarter valued at approximately $30,000. Pandora Wealth Inc. acquired a new position in shares of Robinhood Markets in the 1st quarter valued at approximately $33,000. Finally, CoreCap Advisors LLC raised its position in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after buying an additional 550 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Company Profile

(Get Free Report)

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.

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