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

Robinhood Markets, Inc. (NASDAQ:HOOD) was the target of some unusual options trading on Monday. Traders purchased 205,071 call options on the company. This represents an increase of 47% compared to the average daily volume of 139,242 call options.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HOOD. The Goldman Sachs Group reduced their price target on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Morgan Stanley raised their price target on Robinhood Markets from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Citigroup upped their price objective on shares of 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 upped their price objective on Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $27.34.

Robinhood Markets Stock Up 0.7 %

Shares of NASDAQ:HOOD opened at $35.24 on Wednesday. The business has a fifty day simple moving average of $26.09 and a 200-day simple moving average of $22.62. Robinhood Markets has a 52 week low of $7.96 and a 52 week high of $36.32. The company has a market cap of $31.15 billion, a P/E ratio of 59.73, a P/E/G ratio of 0.77 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last posted its 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 return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same period last year, the company posted ($0.09) EPS. The firm’s revenue for the quarter was up 36.4% compared to the same quarter last year. Sell-side analysts expect that Robinhood Markets will post 0.72 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven M. Quirk sold 208,291 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the completion of the sale, the insider now owns 346,020 shares in the company, valued at approximately $8,643,579.60. This trade represents a 37.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,710,549 shares of company stock worth $115,477,194 over the last ninety days. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. HM Payson & Co. boosted its stake in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares during the last quarter. Commerce Bank boosted its holdings in shares of Robinhood Markets by 3.3% during the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after acquiring an additional 423 shares during the period. Signaturefd LLC increased its stake in shares of Robinhood Markets by 16.5% in the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after purchasing an additional 487 shares during the period. Castleview Partners LLC boosted its position in Robinhood Markets by 18.2% during the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock worth $89,000 after acquiring an additional 582 shares during the period. Finally, Axxcess Wealth Management LLC grew its position in Robinhood Markets by 3.1% in the 3rd quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock valued at $463,000 after buying an additional 598 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.