Robinhood Markets (NASDAQ:HOOD) Stock Price Up 1.7% - Time to Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares traded up 1.7% during trading on Wednesday . The stock traded as high as $85.55 and last traded at $83.38. 19,035,115 shares changed hands during trading, a decline of 31% from the average session volume of 27,760,311 shares. The stock had previously closed at $82.01.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HOOD shares. Redburn Atlantic reaffirmed a "sell" rating and issued a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. KeyCorp cut their target price on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $71.00 price target on shares of Robinhood Markets in a research note on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Finally, Cantor Fitzgerald reduced their price objective on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Robinhood Markets currently has an average rating of "Moderate Buy" and an average price target of $58.00.

Robinhood Markets Trading Up 1.3%

The stock has a market cap of $73.53 billion, a PE ratio of 47.23, a P/E/G ratio of 4.50 and a beta of 2.25. The business has a 50 day moving average of $61.30 and a 200-day moving average of $50.63.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The business had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. During the same period in the previous year, the firm earned $0.18 earnings per share. The business's revenue was up 50.0% compared to the same quarter last year. Research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $34.51, for a total value of $201,987.03. Following the sale, the chief technology officer now directly owns 5,853 shares of the company's stock, valued at $201,987.03. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,380,434 shares of company stock worth $131,340,572. Company insiders own 19.95% of the company's stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors have recently bought and sold shares of the company. Allworth Financial LP increased its stake in shares of Robinhood Markets by 130.7% during the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company's stock worth $42,000 after acquiring an additional 643 shares during the period. Principal Financial Group Inc. boosted its holdings in Robinhood Markets by 170.7% in the 4th quarter. Principal Financial Group Inc. now owns 116,732 shares of the company's stock valued at $4,349,000 after purchasing an additional 73,607 shares in the last quarter. Truist Financial Corp boosted its holdings in Robinhood Markets by 26.9% in the 4th quarter. Truist Financial Corp now owns 42,745 shares of the company's stock valued at $1,593,000 after purchasing an additional 9,049 shares in the last quarter. First Horizon Advisors Inc. increased its position in Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock worth $142,000 after purchasing an additional 277 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Robinhood Markets by 2.7% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 134,300 shares of the company's stock worth $5,004,000 after buying an additional 3,500 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Company Profile

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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