Robinhood Markets (NASDAQ:HOOD) Shares Up 0.6% - Still a Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price rose 0.6% on Friday . The stock traded as high as $56.32 and last traded at $54.42. Approximately 20,874,697 shares traded hands during trading, a decline of 20% from the average daily volume of 26,107,405 shares. The stock had previously closed at $54.07.

Analysts Set New Price Targets

HOOD has been the subject of a number of research analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $70.00 target price on shares of Robinhood Markets in a research report on Thursday, May 1st. Mizuho lifted their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Wolfe Research cut shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 price target on shares of Robinhood Markets in a report on Thursday, March 27th. Finally, Compass Point assumed coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They set a "buy" rating and a $61.00 price objective on the stock. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $53.24.

Robinhood Markets Price Performance

The business's fifty day moving average price is $43.21 and its two-hundred day moving average price is $42.20. The stock has a market capitalization of $48.24 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Robinhood Markets's quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 EPS. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $34.51, for a total transaction of $201,987.03. Following the transaction, the chief technology officer now directly owns 5,853 shares of the company's stock, valued at $201,987.03. This trade represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $47.69, for a total value of $1,192,250.00. Following the sale, the insider now owns 797,825 shares of the company's stock, valued at approximately $38,048,274.25. This trade represents a 3.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,243,727 shares of company stock valued at $109,688,747 over the last ninety days. Company insiders own 19.95% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP acquired a new stake in shares of Robinhood Markets in the first quarter valued at about $58,897,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Robinhood Markets by 51.2% in the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 57,205 shares of the company's stock valued at $2,381,000 after acquiring an additional 19,362 shares during the last quarter. Raiffeisen Bank International AG boosted its holdings in shares of Robinhood Markets by 6.4% during the 1st quarter. Raiffeisen Bank International AG now owns 159,636 shares of the company's stock worth $6,692,000 after purchasing an additional 9,636 shares during the last quarter. Blue Sky Capital Consultants Group Inc. purchased a new stake in shares of Robinhood Markets in the first quarter valued at approximately $2,203,000. Finally, Manchester Capital Management LLC acquired a new stake in shares of Robinhood Markets in the first quarter valued at approximately $92,000. 93.27% of the stock is owned by institutional investors and hedge funds.

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.

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