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

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Robinhood Markets, Inc. (NASDAQ:HOODGet Rating) was the target of unusually large options trading on Thursday. Stock investors purchased 143,488 call options on the company. This represents an increase of approximately 34% compared to the typical volume of 107,108 call options.

Insider Transactions at Robinhood Markets

In other news, CFO Jason Warnick sold 20,000 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $9.70, for a total transaction of $194,000.00. Following the completion of the sale, the chief financial officer now owns 397,232 shares in the company, valued at approximately $3,853,150.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Jason Warnick sold 20,000 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $9.70, for a total transaction of $194,000.00. Following the completion of the sale, the chief financial officer now owns 397,232 shares in the company, valued at approximately $3,853,150.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 118,142 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $9.10, for a total value of $1,075,092.20. Following the sale, the chief executive officer now owns 1,383,006 shares of the company’s stock, valued at approximately $12,585,354.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 332,249 shares of company stock worth $3,038,560.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Robinhood Markets by 7,430.5% during the 1st quarter. Vanguard Group Inc. now owns 40,217,187 shares of the company’s stock worth $543,334,000 after buying an additional 39,683,128 shares during the last quarter. ARK Investment Management LLC grew its stake in Robinhood Markets by 10.6% during the 2nd quarter. ARK Investment Management LLC now owns 33,556,789 shares of the company’s stock worth $337,581,000 after buying an additional 3,203,476 shares during the last quarter. Ribbit Capital GP II Ltd. bought a new position in Robinhood Markets during the 4th quarter worth $470,317,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Robinhood Markets during the 2nd quarter worth $192,352,000. Finally, Nikko Asset Management Americas Inc. grew its stake in Robinhood Markets by 2.1% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 23,397,624 shares of the company’s stock worth $190,691,000 after buying an additional 472,218 shares during the last quarter. 64.46% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Trading Up 5.5 %

HOOD stock opened at $10.88 on Friday. The firm has a market cap of $9.49 billion and a P/E ratio of -1.19. Robinhood Markets has a 12-month low of $6.81 and a 12-month high of $66.50. The stock’s 50 day simple moving average is $8.61 and its 200 day simple moving average is $10.78.

Wall Street Analyst Weigh In

HOOD has been the topic of several recent research reports. Mizuho reduced their price target on Robinhood Markets from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. reduced their price target on Robinhood Markets from $11.00 to $7.00 in a research report on Tuesday, June 14th. Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $8.00 to $9.00 in a research report on Thursday. Piper Sandler cut their target price on Robinhood Markets from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group raised Robinhood Markets from a “sell” rating to a “neutral” rating and cut their target price for the company from $11.50 to $9.50 in a research report on Monday, June 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of “Hold” and an average target price of $16.19.

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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