Robinhood Markets (NASDAQ:HOOD) Stock Price Up 2.2% - Still a Buy?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) were up 2.2% on Friday . The stock traded as high as $49.73 and last traded at $49.19. Approximately 13,910,879 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 24,719,738 shares. The stock had previously closed at $48.15.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of research reports. KeyCorp dropped their target price on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Cantor Fitzgerald started coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They issued an "overweight" rating and a $69.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Wolfe Research downgraded Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Finally, Piper Sandler lifted their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus target price of $53.88.

Robinhood Markets Trading Up 0.9 %

The firm has a market cap of $43.72 billion, a PE ratio of 31.45, a PEG ratio of 1.05 and a beta of 2.17. The company's 50 day moving average price is $43.28 and its two-hundred day moving average price is $41.16.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 47,133 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $45.27, for a total transaction of $2,133,710.91. Following the sale, the director now owns 7,863 shares of the company's stock, valued at approximately $355,958.01. This trade represents a 85.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $31,470,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,234,584 shares of company stock worth $109,755,759 over the last three months. 19.95% of the stock is currently owned by company insiders.

Institutional Trading of Robinhood Markets

Several hedge funds have recently bought and sold shares of HOOD. MetLife Investment Management LLC grew its holdings in Robinhood Markets by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after buying an additional 171 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its position in Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock worth $368,000 after purchasing an additional 233 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Robinhood Markets by 4.0% during the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock valued at $290,000 after purchasing an additional 265 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock valued at $142,000 after purchasing an additional 277 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Robinhood Markets by 28.6% in the 1st quarter. Blue Trust Inc. now owns 1,998 shares of the company's stock worth $83,000 after buying an additional 444 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

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.