Robinhood Markets (NASDAQ:HOOD) Shares Up 5% - Time to Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shot up 5% during mid-day trading on Tuesday . The stock traded as high as $67.13 and last traded at $66.35. 12,821,527 shares traded hands during trading, a decline of 52% from the average session volume of 26,463,202 shares. The stock had previously closed at $63.17.

Analyst Ratings Changes

Several research firms recently issued reports on HOOD. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 price target 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 stock an "outperform" rating in a report on Friday, February 7th. Barclays cut their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Piper Sandler increased their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $54.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $55.41.

Robinhood Markets Stock Up 1.3%

The company has a market capitalization of $57.36 billion, a PE ratio of 41.26, a PEG ratio of 1.05 and a beta of 2.15. The stock's fifty day simple moving average is $49.34 and its 200-day simple moving average is $45.83.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $0.18 earnings per share. Analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In other news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $49.02, for a total transaction of $1,225,500.00. Following the completion of the sale, the insider now owns 822,893 shares in the company, valued at $40,338,214.86. This represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,127,737 shares of company stock worth $103,819,478 over the last ninety days. 14.47% of the stock is currently owned by insiders.

Institutional Trading of Robinhood Markets

A number of hedge funds have recently bought and sold shares of HOOD. Janney Montgomery Scott LLC boosted its position in Robinhood Markets by 88.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 24,825 shares of the company's stock worth $925,000 after acquiring an additional 11,650 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in Robinhood Markets during the fourth quarter worth approximately $238,000. Robeco Institutional Asset Management B.V. boosted its position in Robinhood Markets by 28.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,488,308 shares of the company's stock worth $55,454,000 after acquiring an additional 327,068 shares during the last quarter. Swedbank AB boosted its position in Robinhood Markets by 14.5% during the fourth quarter. Swedbank AB now owns 258,435 shares of the company's stock worth $9,629,000 after acquiring an additional 32,714 shares during the last quarter. Finally, Highland Capital Management LLC acquired a new stake in Robinhood Markets during the fourth quarter worth approximately $242,000. Institutional investors and hedge funds 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.