Robinhood Markets (NASDAQ:HOOD) Trading 4.2% Higher - What's Next?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) traded up 4.2% on Tuesday . The company traded as high as $71.00 and last traded at $70.83. 17,514,888 shares changed 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.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Compass Point started coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target on the stock. Wolfe Research cut shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. Mizuho increased their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, 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 report on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of "Moderate Buy" and an average price target of $55.41.

Robinhood Markets Trading Up 0.8%

The company has a 50-day simple moving average of $51.30 and a 200 day simple moving average of $46.85. The company has a market cap of $63.99 billion, a P/E ratio of 46.03, a P/E/G ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its 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). The company had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The firm's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 earnings per share. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction on Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.46, for a total value of $26,966,067.48. Following the transaction, the director now owns 7,863 shares in the company, valued at approximately $506,848.98. This represents a 98.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,096,884 shares of company stock worth $102,320,000 in the last three months. Corporate insiders own 14.47% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently modified their holdings of HOOD. Whipplewood Advisors LLC increased its holdings in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares during the period. Hemington Wealth Management boosted its position in Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 218 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Robinhood Markets during the 1st quarter valued at $30,000. CoreCap Advisors LLC increased its holdings in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after acquiring an additional 550 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its position in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after acquiring an additional 750 shares in the last quarter. Institutional investors 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.