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

Robinhood Markets, Inc. (NASDAQ:HOOD) saw unusually large options trading activity on Thursday. Traders bought 192,408 call options on the stock. This is an increase of 30% compared to the average daily volume of 148,066 call options.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 139,916 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $19.55, for a total transaction of $2,735,357.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total value of $477,750.00. Following the completion of the sale, the insider now directly owns 1,106,955 shares of the company’s stock, valued at approximately $42,307,820.10. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,455,410 shares of company stock valued at $111,119,901 over the last three months. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors 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 worth $28,000 after acquiring an additional 410 shares in the last quarter. Commerce Bank grew its holdings in Robinhood Markets by 3.3% in the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after purchasing an additional 423 shares during the period. Signaturefd LLC increased its position 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 buying an additional 487 shares in the last quarter. Castleview Partners LLC lifted its position in shares of Robinhood Markets by 18.2% during the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock valued at $89,000 after buying an additional 582 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its stake 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 acquiring an additional 598 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

HOOD stock opened at $38.92 on Friday. The firm’s fifty day simple moving average is $29.40 and its 200-day simple moving average is $24.09. Robinhood Markets has a 12 month low of $10.38 and a 12 month high of $42.76. The company has a market capitalization of $34.40 billion, a P/E ratio of 65.97, a price-to-earnings-growth ratio of 0.90 and a beta of 2.09.

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

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective 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. The Goldman Sachs Group upped their price target on Robinhood Markets from $25.00 to $40.00 and gave the company a “neutral” rating in a report on Monday. Citigroup boosted their price target on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Finally, Needham & Company LLC raised Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Monday, November 18th. 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 stock. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average target price of $35.40.

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.