Robinhood Markets (NASDAQ:HOOD) Trading Up 4.2% - Still a Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shot up 4.2% on Tuesday . The company traded as high as $71.00 and last traded at $70.83. 17,514,888 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 26,480,567 shares. The stock had previously closed at $67.98.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HOOD. Barclays cut their price target on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Morgan Stanley upped their target price on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. Mizuho increased their target price on Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Citigroup dropped their price target on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, KeyCorp cut their price objective on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.41.

Robinhood Markets Price Performance

The business's 50-day simple moving average is $51.92 and its two-hundred day simple moving average is $47.11. The stock has a market cap of $66.30 billion, a price-to-earnings ratio of 47.69, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly 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 47.81% and a return on equity of 13.53%. The firm had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The firm's revenue was up 50.0% on a year-over-year basis. Equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $71.64, for a total transaction of $1,791,000.00. Following the sale, the insider now directly owns 841,887 shares of the company's stock, valued at $60,312,784.68. The trade was a 2.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's 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. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,226,771 shares of company stock worth $111,467,774. 14.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc lifted its holdings in Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock valued at $164,000 after buying an additional 3,769 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock valued at $175,857,000 after purchasing an additional 138,267 shares during the period. Aigen Investment Management LP boosted its position in shares of Robinhood Markets by 161.2% during the 4th quarter. Aigen Investment Management LP now owns 85,868 shares of the company's stock valued at $3,199,000 after purchasing an additional 52,988 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Robinhood Markets by 19.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company's stock valued at $179,463,000 after purchasing an additional 739,631 shares in the last quarter. Finally, Allegiance Financial Group Advisory Services LLC acquired a new stake in Robinhood Markets during the fourth quarter worth approximately $207,000. Institutional investors and hedge funds own 93.27% of the company's stock.

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.