Traders Buy Large Volume of Call Options on Robinhood Markets (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD) was the recipient of some unusual options trading on Friday. Investors acquired 307,175 call options on the stock. This represents an increase of 46% compared to the average volume of 210,001 call options.

Insider Activity

In other news, Director Baiju Bhatt sold 186,514 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82. Following the transaction, the director now owns 2,521 shares of the company’s stock, valued at approximately $96,125.73. This represents a 98.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the sale, the chief technology officer now owns 17,559 shares in the company, valued at $821,936.79. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,171,641 shares of company stock worth $149,567,157 over the last ninety days. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently modified their holdings of the stock. New Wave Wealth Advisors LLC bought a new position in Robinhood Markets in the 4th quarter worth about $26,000. True Wealth Design LLC purchased a new position in Robinhood Markets in the third quarter worth about $30,000. CoreCap Advisors LLC lifted its stake in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after buying an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after buying an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $34,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $44.42 on Friday. The firm has a market capitalization of $39.33 billion, a P/E ratio of 28.29, a PEG ratio of 1.05 and a beta of 2.14. Robinhood Markets has a one year low of $13.98 and a one year high of $66.91. The company’s 50-day simple moving average is $48.93 and its 200 day simple moving average is $35.64.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, equities research analysts expect that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HOOD. Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a research report on Thursday. They issued an “overweight” rating and a $69.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Sanford C. Bernstein raised their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Piper Sandler upped their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Barclays increased their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.13.

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.