Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price dropped 0.2% during trading on Thursday . The company traded as low as $38.80 and last traded at $39.50. Approximately 2,954,574 shares traded hands during trading, a decline of 83% from the average daily volume of 17,011,840 shares. The stock had previously closed at $39.58.
Several brokerages have issued reports on HOOD. Needham & Company LLC reissued a "buy" rating and issued a $52.00 target price (up from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Citigroup raised their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a "neutral" rating in a report on Friday, September 27th. Barclays upgraded shares of Robinhood Markets from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $26.00 to $49.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. boosted their price objective on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an "underweight" rating in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $39.20.
Check Out Our Latest Stock Report on Robinhood Markets
The company's 50 day moving average is $33.83 and its two-hundred day moving average is $26.00. The company has a market capitalization of $35.56 billion, a PE ratio of 68.19, a PEG ratio of 0.76 and a beta of 2.09.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets's quarterly revenue was up 36.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) earnings per share. Analysts forecast that Robinhood Markets, Inc. will post 0.8 EPS for the current year.
In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.37, for a total transaction of $279,625.00. Following the completion of the transaction, the insider now directly owns 1,057,500 shares of the company's stock, valued at $23,656,275. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the business's stock in a transaction on Friday, October 4th. The shares were sold at an average price of $22.88, for a total transaction of $5,720,000.00. The disclosure for this sale can be found here. Insiders sold 6,043,565 shares of company stock worth $177,315,305 over the last 90 days. 19.95% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank grew its stake in Robinhood Markets by 31.1% in the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company's stock worth $1,602,000 after acquiring an additional 16,219 shares in the last quarter. Baker Avenue Asset Management LP increased its holdings in Robinhood Markets by 77.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company's stock worth $10,874,000 after purchasing an additional 203,354 shares during the period. Bridgewater Associates LP raised its position in Robinhood Markets by 100.4% during the 3rd quarter. Bridgewater Associates LP now owns 330,956 shares of the company's stock valued at $7,751,000 after purchasing an additional 165,791 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Robinhood Markets by 44.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company's stock worth $1,481,000 after buying an additional 19,345 shares during the period. Finally, EULAV Asset Management grew its position in shares of Robinhood Markets by 22.2% during the 3rd quarter. EULAV Asset Management now owns 550,000 shares of the company's stock worth $12,881,000 after buying an additional 100,000 shares in the last quarter. Institutional investors own 93.27% of the company's stock.
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.
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