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

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Robinhood Markets, Inc. (NASDAQ:HOODGet Rating) was the target of some unusual options trading on Thursday. Stock investors purchased 118,953 call options on the stock. This represents an increase of 36% compared to the typical volume of 87,470 call options.

Analysts Set New Price Targets

HOOD has been the subject of a number of recent analyst reports. KeyCorp decreased their price target on Robinhood Markets from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, August 1st. JPMorgan Chase & Co. cut their price objective on shares of Robinhood Markets from $11.00 to $7.00 in a research report on Tuesday, June 14th. JMP Securities dropped their price target on shares of Robinhood Markets from $36.00 to $28.00 and set a “market outperform” rating on the stock in a research report on Tuesday, July 12th. Atlantic Securities raised their price target on shares of Robinhood Markets from $5.00 to $7.00 and gave the company an “underweight” rating in a research report on Wednesday, August 31st. Finally, Piper Sandler dropped their price target on shares of Robinhood Markets from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 3rd. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Robinhood Markets has an average rating of “Hold” and an average price target of $12.75.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Baiju Bhatt sold 118,134 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $9.10, for a total transaction of $1,075,019.40. Following the completion of the sale, the insider now directly owns 370,766 shares in the company, valued at $3,373,970.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Baiju Bhatt sold 118,134 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $9.10, for a total transaction of $1,075,019.40. Following the completion of the transaction, the insider now directly owns 370,766 shares in the company, valued at $3,373,970.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 110,000 shares of the company’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $10.73, for a total transaction of $1,180,300.00. Following the transaction, the insider now owns 228,748 shares of the company’s stock, valued at $2,454,466.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 413,457 shares of company stock worth $3,998,612. Company insiders own 15.31% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd bought a new position in shares of Robinhood Markets in the first quarter worth approximately $28,000. Quantbot Technologies LP bought a new position in Robinhood Markets during the second quarter valued at approximately $28,000. Prospera Financial Services Inc bought a new position in Robinhood Markets during the first quarter valued at approximately $29,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Robinhood Markets during the second quarter valued at approximately $29,000. Finally, CWM LLC purchased a new stake in Robinhood Markets during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 57.95% of the company’s stock.

Robinhood Markets Stock Down 2.7 %

Robinhood Markets stock opened at $9.65 on Friday. The company has a market capitalization of $8.50 billion, a PE ratio of -1.05 and a beta of 1.18. The firm has a fifty day simple moving average of $9.80 and a two-hundred day simple moving average of $10.08. Robinhood Markets has a twelve month low of $6.81 and a twelve month high of $47.84.

Robinhood Markets (NASDAQ:HOODGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.02. Robinhood Markets had a negative net margin of 221.99% and a negative return on equity of 27.59%. The business had revenue of $318.00 million during the quarter, compared to the consensus estimate of $351.65 million. As a group, equities analysts expect that Robinhood Markets will post -1.32 earnings per share for the current fiscal year.

Robinhood Markets Company Profile

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Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron’s, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade.

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