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

Robinhood Markets, Inc. (NASDAQ:HOOD) was the target of unusually large options trading on Monday. Stock investors acquired 205,071 call options on the stock. This is an increase of approximately 47% compared to the typical volume of 139,242 call options.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 139,916 shares of Robinhood Markets stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total value of $4,815,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,710,549 shares of company stock valued at $115,477,194. 19.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Robinhood Markets in the first quarter worth approximately $34,000. Empowered Funds LLC purchased a new position in shares of Robinhood Markets during the 1st quarter valued at $262,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Robinhood Markets by 25.9% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 35,347 shares of the company’s stock worth $712,000 after purchasing an additional 7,271 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Robinhood Markets by 33.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 244,627 shares of the company’s stock worth $4,924,000 after purchasing an additional 61,933 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in Robinhood Markets by 60.1% during the 1st quarter. Intech Investment Management LLC now owns 28,819 shares of the company’s stock worth $580,000 after purchasing an additional 10,820 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

NASDAQ:HOOD traded up $2.68 during trading hours on Monday, reaching $35.00. 35,016,953 shares of the stock were exchanged, compared to its average volume of 16,074,260. The stock has a market cap of $30.94 billion, a PE ratio of 58.20, a PEG ratio of 0.77 and a beta of 1.84. Robinhood Markets has a twelve month low of $7.96 and a twelve month high of $35.62. The firm has a 50 day moving average of $25.47 and a 200 day moving average of $22.37.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data 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 firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the previous year, the business earned ($0.09) EPS. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. Equities research analysts anticipate that Robinhood Markets will post 0.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. Citigroup raised their price objective on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. JMP Securities raised their price target on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. Barclays raised 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. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $27.00 to $32.00 and gave the company a “buy” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.34.

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.