Stock traders buy large volume of call options on Robinhood Markets (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD – Get Rating) was the recipient of some unusual options trading activity on Thursday. Equity investors bought 118,953 call options on the company. This represents a 36% increase from the average daily volume of 87,470 call options.

A Wall Street analyst gives his opinion

A number of equity research analysts have recently commented on HOOD shares. Mizuho lowered its price target on Robinhood Markets shares from $14.00 to $13.00 and set a “buy” rating for the company in a Thursday, Aug. 4 report. Deutsche Bank Aktiengesellschaft raised its price target on Robinhood Markets shares from $9.00 to $10.00 and gave the stock a “holding” rating in a Friday, August 12 report. Barclays downgraded shares of Robinhood Markets from an “equal weight” rating to an “underweight” rating and set a price target of $10.00 for the company. in a report on Wednesday August 31. JMP Securities lowered its price target on Robinhood Markets shares from $36.00 to $28.00 and set a “market outperformance” rating for the company in a Tuesday, July 12 report. Finally, JPMorgan Chase & Co. lowered its price target on Robinhood Markets shares from $11.00 to $7.00 in a Tuesday, June 14 report. Four investment analysts gave the stock a sell rating, four gave the company a hold rating and five gave the company a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.75.

Robinhood markets are trading down 2.7%

Shares of HOOD fell $0.27 on Thursday, hitting $9.65. The company’s stock had a trading volume of 1,045,733 shares, compared to its average volume of 11,419,776. The stock’s fifty-day simple moving average is $9.77 and its simple moving average of 200 days is $10.09. Robinhood Markets has a 1-year low of $6.81 and a 1-year high of $47.84.

Robinhood Markets (NASDAQ:HOOD – Get Rating) last released its quarterly earnings data on Tuesday, August 2. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.02. The company posted revenue of $318.00 million in the quarter, versus analyst estimates of $351.65 million. Robinhood Markets had a negative net margin of 221.99% and a negative return on equity of 27.59%. Sell-side analysts expect Robinhood Markets to post -1.32 earnings per share for the current fiscal year.

Insider activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 118,142 Robinhood Markets shares in a trade dated Tuesday, August 2. The shares were sold at an average price of $9.10, for a total value of $1,075,092.20. As a result of the sale, the CEO now owns 1,383,006 shares of the company, valued at $12,585,354.60. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Separately, CEO Vladimir Tenev sold 118,142 shares of the company in a deal that took place on Tuesday, August 2. The shares were sold at an average price of $9.10, for a total transaction of $1,075,092.20. As a result of the sale, the CEO now owns 1,383,006 shares of the company, valued at approximately $12,585,354.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, CFO Jason Warnick sold 20,000 shares of the company in a trade that took place on Friday, July 8. The stock was sold at an average price of $9.00, for a total transaction of $180,000.00. Following the sale, the CFO now directly owns 426,730 shares of the company, valued at approximately $3,840,570. The disclosure of this sale can be found here. Insiders have sold 413,457 shares of the company worth $3,998,612 over the past three months. 15.31% of the shares are currently held by insiders.

Hedge funds weigh on Robinhood markets

A number of large investors have recently increased or reduced their holdings in HOOD. Covestor Ltd purchased a new stake in Robinhood Markets in the first quarter worth approximately $28,000. Quantbot Technologies LP acquired a new stake in Robinhood Markets in the second quarter worth approximately $28,000. Prospera Financial Services Inc acquired a new stake in Robinhood Markets in the first quarter worth approximately $29,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Robinhood Markets in the second quarter worth approximately $29,000. Finally, CWM LLC acquired a new position in shares of Robinhood Markets during Q2 worth approximately $33,000. 57.95% of the shares are currently held by institutional investors.

About Robinhood Markets

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Robinhood Markets, Inc operates a 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 a variety of learning and education solutions, including Snacks, a business news digest; Learn, which is a collection of about articles including guides, feature tutorials, and a financial dictionary; Newsfeeds that provide free access to premium news from various sites, such as Barron’s, Reuters and The Wall Street Journal; Lists and Alerts, which allows 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 not yet made a trade.

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