Robinhood Markets Target of Unusually Large Options Trading (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD) was the recipient of unusually large options trading on Wednesday. Traders purchased 224,586 call options on the company. This represents an increase of 52% compared to the typical volume of 147,852 call options.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HOOD. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Robinhood Markets from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, June 20th. Bank of America upgraded Robinhood Markets from an “underperform” rating to a “buy” rating and boosted their price target for the company from $14.00 to $24.00 in a report on Friday, May 17th. Piper Sandler lifted their price objective on Robinhood Markets from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Citigroup raised Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 price target for the company in a research note on Monday. Finally, Morgan Stanley upped their price objective on shares of Robinhood Markets from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.23.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $21.05, for a total transaction of $263,125.00. Following the transaction, the insider now directly owns 943,815 shares in the company, valued at $19,867,305.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $21.05, for a total transaction of $263,125.00. Following the completion of the sale, the insider now directly owns 943,815 shares in the company, valued at $19,867,305.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Vladimir Tenev sold 47,570 shares of Robinhood Markets stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $21.12, for a total value of $1,004,678.40. The disclosure for this sale can be found here. In the last three months, insiders sold 1,151,093 shares of company stock worth $24,215,307. 19.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Daiwa Securities Group Inc. increased its position in Robinhood Markets by 11.8% during the second quarter. Daiwa Securities Group Inc. now owns 46,420 shares of the company’s stock valued at $1,054,000 after acquiring an additional 4,885 shares during the last quarter. Sparta 24 Ltd. purchased a new stake in shares of Robinhood Markets during the 2nd quarter valued at about $3,669,000. Dorsey & Whitney Trust CO LLC bought a new position in shares of Robinhood Markets in the 2nd quarter worth approximately $219,000. Prudential PLC boosted its holdings in shares of Robinhood Markets by 80.8% in the second quarter. Prudential PLC now owns 39,782 shares of the company’s stock worth $903,000 after buying an additional 17,775 shares during the last quarter. Finally, Oak Thistle LLC grew its position in Robinhood Markets by 35.8% during the second quarter. Oak Thistle LLC now owns 16,612 shares of the company’s stock valued at $377,000 after buying an additional 4,380 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Down 0.5 %

Shares of Robinhood Markets stock traded down $0.09 on Wednesday, reaching $17.12. The company’s stock had a trading volume of 29,021,510 shares, compared to its average volume of 16,116,405. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $24.88. The firm’s fifty day simple moving average is $21.96 and its two-hundred day simple moving average is $18.33. The company has a market capitalization of $15.05 billion, a price-to-earnings ratio of 114.13 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.13. The business had revenue of $618.00 million during the quarter, compared to analyst estimates of $552.74 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. Robinhood Markets’s revenue was up 40.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.57) EPS. As a group, research analysts predict that Robinhood Markets will post 0.57 EPS for the current year.

Robinhood Markets Company Profile

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.