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

Robinhood Markets, Inc. (NASDAQ:HOOD) was the target of some unusual options trading activity on Wednesday. Investors purchased 174,025 call options on the company. This is an increase of 44% compared to the average volume of 121,260 call options.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 98,404 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the transaction, the director now owns 2,521 shares of the company’s stock, valued at approximately $66,554.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,639,654 shares of company stock valued at $110,241,632 over the last three months. 19.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after buying an additional 722 shares in the last quarter. Diversified Trust Co acquired a new position in shares of Robinhood Markets during the first quarter worth approximately $278,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Robinhood Markets during the first quarter worth approximately $34,000. Principal Financial Group Inc. lifted its holdings in shares of Robinhood Markets by 26.6% in the 1st quarter. Principal Financial Group Inc. now owns 53,661 shares of the company’s stock worth $1,080,000 after purchasing an additional 11,264 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Robinhood Markets by 40.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 46,101 shares of the company’s stock valued at $928,000 after purchasing an additional 13,202 shares during the period. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded up $0.31 during midday trading on Wednesday, reaching $28.34. The company’s stock had a trading volume of 12,185,085 shares, compared to its average volume of 15,327,907. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $28.55. The firm has a 50 day moving average price of $23.16 and a two-hundred day moving average price of $21.29. The firm has a market capitalization of $25.07 billion, a price-to-earnings ratio of 85.85 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. The firm had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The company’s revenue was up 40.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 earnings per share. As a group, research analysts anticipate that Robinhood Markets will post 0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HOOD. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. Citigroup raised their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, September 27th. JPMorgan Chase & Co. boosted their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, October 17th. Piper Sandler raised their price target on shares of Robinhood Markets from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Barclays boosted their price objective on shares of Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $24.97.

About Robinhood Markets

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.