Robinhood Markets (NASDAQ:HOOD) Shares Up 1.1% - Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) rose 1.1% during mid-day trading on Thursday . The company traded as high as $112.07 and last traded at $109.76. 13,688,287 shares changed hands during trading, a decline of 51% from the average session volume of 28,008,619 shares. The stock had previously closed at $108.54.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citizens Jmp reissued a "market outperform" rating and set a $155.00 price target on shares of Robinhood Markets in a research report on Thursday, July 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Robinhood Markets in a research report on Wednesday, June 24th. Keefe, Bruyette & Woods reduced their target price on Robinhood Markets from $75.00 to $65.00 and set a "market perform" rating on the stock in a report on Wednesday, April 29th. Piper Sandler reiterated an "overweight" rating on shares of Robinhood Markets in a report on Thursday, July 2nd. Finally, Wall Street Zen raised Robinhood Markets from a "strong sell" rating to a "sell" rating in a research report on Sunday, July 12th. Twenty-one equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus target price of $120.52.

Robinhood Markets Price Performance

The stock has a market cap of $98.68 billion, a P/E ratio of 48.35, a price-to-earnings-growth ratio of 2.04 and a beta of 2.35. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The business's 50-day simple moving average is $101.50 and its two-hundred day simple moving average is $86.79.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.18. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. The firm's revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. Sell-side analysts expect that Robinhood Markets, Inc. will post 2.04 EPS for the current year.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 57,898 shares of Robinhood Markets stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $89.63, for a total transaction of $5,189,397.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 19,377 shares of the firm's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $119.96, for a total value of $2,324,464.92. Following the sale, the insider owned 62,612 shares in the company, valued at $7,510,935.52. The trade was a 23.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 612,704 shares of company stock worth $66,675,612. Company insiders own 13.48% of the company's stock.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently bought and sold shares of the stock. Empowered Funds LLC increased its position in shares of Robinhood Markets by 46.7% in the first quarter. Empowered Funds LLC now owns 49,870 shares of the company's stock valued at $2,076,000 after acquiring an additional 15,885 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Robinhood Markets in the second quarter worth $5,105,000. Federated Hermes Inc. lifted its position in Robinhood Markets by 106.2% during the 2nd quarter. Federated Hermes Inc. now owns 63,957 shares of the company's stock valued at $5,988,000 after acquiring an additional 32,933 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Robinhood Markets by 19.1% during the second quarter. NewEdge Advisors LLC now owns 89,676 shares of the company's stock valued at $8,396,000 after purchasing an additional 14,356 shares during the last quarter. Finally, Nebula Research & Development LLC bought a new stake in Robinhood Markets in the second quarter worth $1,316,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

About Robinhood Markets

Robinhood Markets, Inc NASDAQ: HOOD is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to "democratize finance for all." Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood's core products and services include a mobile app and web platform for trading U.S.

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