Stock Traders Buy High Volume of Robinhood Markets Call Options (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 239,463 call options on the stock. This is an increase of approximately 60% compared to the typical daily volume of 149,672 call options.

Insider Activity

In other news, insider Baiju Bhatt sold 16,667 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $17.17, for a total transaction of $286,172.39. Following the transaction, the insider now owns 36,045 shares of the company’s stock, valued at $618,892.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Baiju Bhatt sold 16,667 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $17.17, for a total value of $286,172.39. Following the completion of the sale, the insider now directly owns 36,045 shares of the company’s stock, valued at $618,892.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $12.43, for a total transaction of $62,150.00. Following the transaction, the chief financial officer now directly owns 921,267 shares in the company, valued at $11,451,348.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,435,027 shares of company stock valued at $34,531,948. 20.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently made changes to their positions in the stock. Spire Wealth Management acquired a new position in Robinhood Markets in the 4th quarter valued at about $26,000. Covestor Ltd acquired a new stake in shares of Robinhood Markets during the first quarter worth about $28,000. Quantbot Technologies LP purchased a new position in shares of Robinhood Markets in the second quarter valued at approximately $28,000. Peoples Bank KS acquired a new position in shares of Robinhood Markets in the third quarter valued at approximately $29,000. Finally, PNC Financial Services Group Inc. increased its stake in Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after buying an additional 722 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HOOD. Piper Sandler upped their target price on Robinhood Markets from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. JMP Securities reaffirmed a “market outperform” rating and set a $25.00 price target on shares of Robinhood Markets in a research report on Thursday. Mizuho boosted their price objective on Robinhood Markets from $17.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. TheStreet raised Robinhood Markets from a “d+” rating to a “c-” rating in a report on Wednesday, February 28th. Finally, Barclays raised their price objective on shares of Robinhood Markets from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Hold” and an average price target of $16.04.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $20.13 on Friday. Robinhood Markets has a 1-year low of $7.91 and a 1-year high of $20.55. The company’s 50-day moving average is $14.59 and its two-hundred day moving average is $11.75. The firm has a market capitalization of $17.60 billion, a price-to-earnings ratio of -33.55 and a beta of 1.63.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. The firm had revenue of $471.00 million for the quarter, compared to analyst estimates of $454.73 million. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. Robinhood Markets’s revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.19) EPS. As a group, equities analysts anticipate that Robinhood Markets will post 0.23 earnings per share for the current fiscal year.

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.