Robinhood Markets (NASDAQ:HOOD) Stock Price Up 6.8% - Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price traded up 6.8% on Tuesday . The stock traded as high as $81.34 and last traded at $81.53. 16,048,649 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 27,659,169 shares. The stock had previously closed at $76.35.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citigroup lowered their price target on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. 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. Compass Point boosted 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $70.00 target price on shares of Robinhood Markets in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $62.29.

Robinhood Markets Price Performance

The company has a market cap of $73.57 billion, a PE ratio of 47.21, a price-to-earnings-growth ratio of 4.88 and a beta of 2.25. The company's 50 day simple moving average is $63.01 and its two-hundred day simple moving average is $51.16.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The company had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. During the same quarter last year, the business posted $0.18 EPS. The firm's revenue for the quarter was up 50.0% on a year-over-year basis. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $77.82, for a total value of $456,336.48. Following the sale, the chief technology officer now directly owns 14,772 shares in the company, valued at approximately $1,149,557.04. This trade represents a 28.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 2,380,434 shares of company stock valued at $131,340,572 in the last three months. 14.47% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

A number of large investors have recently made changes to their positions in HOOD. AG2R LA Mondiale Gestion D Actifs acquired a new position in Robinhood Markets during the 1st quarter worth approximately $1,103,000. Swedbank AB lifted its position in shares of Robinhood Markets by 15.7% during the 1st quarter. Swedbank AB now owns 298,931 shares of the company's stock worth $12,442,000 after purchasing an additional 40,496 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of Robinhood Markets by 548.5% during the 1st quarter. Voya Investment Management LLC now owns 622,190 shares of the company's stock worth $25,896,000 after purchasing an additional 526,245 shares during the last quarter. Cim LLC grew its stake in shares of Robinhood Markets by 49.8% during the first quarter. Cim LLC now owns 81,911 shares of the company's stock worth $3,409,000 after purchasing an additional 27,230 shares in the last quarter. Finally, Silicon Valley Capital Partners increased its holdings in Robinhood Markets by 50.0% in the first quarter. Silicon Valley Capital Partners now owns 1,500 shares of the company's stock valued at $63,000 after buying an additional 500 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.