Robinhood Markets Sees Unusually High Options Volume (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD) was the target of unusually large options trading activity on Wednesday. Traders acquired 224,586 call options on the stock. This is an increase of approximately 52% compared to the typical daily volume of 147,852 call options.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 120,236 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $22.20, for a total transaction of $2,669,239.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Jason Warnick sold 5,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $21.25, for a total transaction of $106,250.00. Following the completion of the sale, the chief financial officer now owns 1,066,241 shares in the company, valued at $22,657,621.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 120,236 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $22.20, for a total value of $2,669,239.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,151,093 shares of company stock valued at $24,215,307. 19.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently modified their holdings of the business. ORG Partners LLC acquired a new position in Robinhood Markets in the 2nd quarter valued at $33,000. Allspring Global Investments Holdings LLC bought a new position in Robinhood Markets in the 1st quarter valued at about $34,000. International Assets Investment Management LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at approximately $40,000. Opal Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets during the 2nd quarter worth approximately $45,000. Finally, Spire Wealth Management acquired a new position in Robinhood Markets during the fourth quarter valued at approximately $26,000. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Robinhood Markets from $18.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 10th. Mizuho boosted their target price on Robinhood Markets from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Robinhood Markets in a research report on Thursday, June 6th. Morgan Stanley boosted their price objective on Robinhood Markets from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. Finally, Citigroup upgraded shares of Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 target price on the stock in a report on Monday. Two research 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.23.

Robinhood Markets Stock Down 0.5 %

Shares of HOOD stock traded down $0.09 during trading on Wednesday, reaching $17.12. 29,021,510 shares of the company’s stock were exchanged, compared to its average volume of 16,116,405. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $24.88. The firm’s fifty day moving average price is $21.96 and its 200-day moving average price is $18.33. The stock has a market capitalization of $15.05 billion, a PE ratio of 114.13 and a beta of 1.83.

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