Robinhood Markets (NASDAQ:HOOD) Trading Up 2.5% - Time to Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price rose 2.5% on Thursday . The stock traded as high as $106.49 and last traded at $105.80. Approximately 15,845,045 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 30,591,860 shares. The stock had previously closed at $103.25.

Analyst Ratings Changes

HOOD has been the topic of several research reports. Compass Point increased their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Needham & Company LLC reiterated a "buy" rating and set a $71.00 target price on shares of Robinhood Markets in a research report on Tuesday, May 27th. KeyCorp increased their target price on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $85.29.

Robinhood Markets Stock Performance

The firm has a market capitalization of $95.89 billion, a P/E ratio of 61.12, a P/E/G ratio of 5.26 and a beta of 2.36. The stock has a fifty day moving average price of $77.63 and a two-hundred day moving average price of $57.05.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The business had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same quarter last year, the firm posted $0.18 EPS. The company's revenue was up 50.0% compared to the same quarter last year. As a group, 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 news, insider Steven M. Quirk sold 92,257 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total value of $7,838,154.72. Following the sale, the insider owned 136,364 shares of the company's stock, valued at approximately $11,585,485.44. The trade was a 40.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher D. Payne bought 26,500 shares of the business's stock in a transaction dated Friday, June 13th. The shares were bought at an average cost of $74.19 per share, for a total transaction of $1,966,035.00. Following the completion of the transaction, the director directly owned 26,500 shares of the company's stock, valued at $1,966,035. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 2,364,145 shares of company stock worth $181,837,741. 14.47% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

Hedge funds have recently modified their holdings of the company. TD Private Client Wealth LLC increased its holdings in Robinhood Markets by 184.4% during the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock valued at $76,000 after purchasing an additional 1,186 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new position in Robinhood Markets in the first quarter valued at about $277,000. Burns Matteson Capital Management LLC bought a new stake in Robinhood Markets during the first quarter worth about $495,000. Fiduciary Alliance LLC acquired a new stake in shares of Robinhood Markets in the first quarter valued at approximately $2,177,000. Finally, Invesco Ltd. boosted its holdings in shares of Robinhood Markets by 132.6% during the 4th quarter. Invesco Ltd. now owns 2,867,595 shares of the company's stock worth $106,847,000 after buying an additional 1,634,599 shares during the period. 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.