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

Robinhood Markets, Inc. (NASDAQ:HOOD) saw some unusual options trading activity on Thursday. Investors purchased 219,947 call options on the stock. This is an increase of approximately 64% compared to the typical volume of 134,436 call options.

Insider Activity at Robinhood Markets

In related news, CFO Jason Warnick sold 5,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $12.00, for a total value of $60,000.00. Following the completion of the sale, the chief financial officer now owns 916,267 shares of the company’s stock, valued at $10,995,204. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Robinhood Markets news, insider Baiju Bhatt sold 188,077 shares of Robinhood Markets stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $13.57, for a total transaction of $2,552,204.89. Following the transaction, the insider now directly owns 36,045 shares of the company’s stock, valued at $489,130.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason Warnick sold 5,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief financial officer now owns 916,267 shares in the company, valued at $10,995,204. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,413,026 shares of company stock valued at $38,927,267. Corporate insiders own 20.81% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Picton Mahoney Asset Management acquired a new stake in Robinhood Markets in the first quarter valued at approximately $209,000. Scout Investments Inc. purchased a new stake in shares of Robinhood Markets in the 1st quarter valued at approximately $18,563,000. SageView Advisory Group LLC acquired a new stake in shares of Robinhood Markets in the 1st quarter valued at $84,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of 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 during the last quarter. Finally, Angeles Wealth Management LLC grew its stake in shares of Robinhood Markets by 5.3% during the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock worth $246,000 after purchasing an additional 610 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Down 3.1 %

Robinhood Markets stock opened at $17.30 on Friday. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $20.55. The firm has a market cap of $15.13 billion, a PE ratio of -28.83 and a beta of 1.74. The company’s 50 day moving average is $17.83 and its two-hundred day moving average is $13.43.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.13. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The business had revenue of $618.00 million for the quarter, compared to analysts’ expectations of $552.74 million. During the same period last year, the firm earned ($0.57) earnings per share. The company’s revenue for the quarter was up 40.1% compared to the same quarter last year. On average, equities research analysts anticipate that Robinhood Markets will post 0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on HOOD shares. Citigroup cut Robinhood Markets from a “neutral” rating to a “sell” rating and upped their price objective for the company from $13.00 to $16.00 in a report on Thursday, April 11th. Barclays upped their price target on Robinhood Markets from $16.00 to $18.00 and gave the company an “underweight” rating in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research report on Monday. JMP Securities upped their target price on shares of Robinhood Markets from $28.00 to $30.00 and gave the company a “market outperform” rating in a research report on Thursday. Finally, Sanford C. Bernstein started coverage on shares of Robinhood Markets in a research note on Thursday, March 14th. They set an “outperform” rating and a $30.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.35.

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.