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

Robinhood Markets, Inc. (NASDAQ:HOOD) saw some unusual options trading activity on Thursday. Investors purchased 192,408 call options on the stock. This represents an increase of 30% compared to the typical volume of 148,066 call options.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HOOD shares. Piper Sandler upped their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday. Morgan Stanley raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $24.00 to $55.00 in a research note on Monday, November 25th. KeyCorp upped their target price on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup boosted their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Finally, Barclays boosted their target price on Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.40.

Robinhood Markets Trading Down 2.7 %

Shares of NASDAQ:HOOD opened at $38.92 on Friday. The firm has a market cap of $34.40 billion, a price-to-earnings ratio of 65.97, a P/E/G ratio of 0.90 and a beta of 2.09. The business has a fifty day simple moving average of $29.40 and a 200 day simple moving average of $24.09. Robinhood Markets has a 1 year low of $10.38 and a 1 year high of $42.76.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter last year, the company earned ($0.09) earnings per share. The firm’s revenue was up 36.4% on a year-over-year basis. On average, sell-side analysts forecast that Robinhood Markets will post 0.74 EPS for the current year.

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 139,916 shares of Robinhood Markets stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $19.55, for a total value of $2,735,357.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $23.42, for a total value of $545,522.06. Following the transaction, the insider now owns 1,070,000 shares of the company’s stock, valued at approximately $25,059,400. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,455,410 shares of company stock worth $111,119,901. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently added to or reduced their stakes in HOOD. Cetera Advisors LLC acquired a new position in shares of Robinhood Markets in the 1st quarter valued at approximately $606,000. GAMMA Investing LLC boosted its stake in shares of Robinhood Markets by 44.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after purchasing an additional 710 shares in the last quarter. DNB Asset Management AS raised its position in Robinhood Markets by 39.7% in the second quarter. DNB Asset Management AS now owns 85,114 shares of the company’s stock valued at $1,933,000 after purchasing an additional 24,208 shares during the last quarter. CWM LLC grew its stake in shares of Robinhood Markets by 120.7% in the second quarter. CWM LLC now owns 23,222 shares of the company’s stock worth $527,000 after purchasing an additional 12,701 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in Robinhood Markets in the second quarter valued at approximately $45,000. Institutional investors own 93.27% of the company’s stock.

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.