Robinhood Markets (NASDAQ:HOOD) Stock Price Up 7.2% - Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) was up 7.2% during mid-day trading on Thursday . The stock traded as high as $53.94 and last traded at $53.59. Approximately 21,073,134 shares were traded during trading, a decline of 19% from the average daily volume of 25,997,452 shares. The stock had previously closed at $49.99.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HOOD shares. Compass Point assumed coverage on Robinhood Markets in a research note on Wednesday, March 19th. They set a "buy" rating and a $61.00 price objective on the stock. Piper Sandler raised their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Barclays reduced their price target on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Finally, Raymond James started coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They issued a "market perform" rating on the stock. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and an average target price of $53.24.

Robinhood Markets Stock Performance

The company's 50-day moving average price is $43.38 and its 200 day moving average price is $42.61. The stock has a market capitalization of $50.85 billion, a PE ratio of 36.58, a PEG ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued 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 net margin of 47.81% and a return on equity of 13.53%. The business had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. During the same period last year, the business earned $0.18 earnings per share. The company's revenue was up 50.0% on a year-over-year basis. Analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $47.69, for a total transaction of $1,192,250.00. Following the completion of the transaction, the insider now directly owns 797,825 shares of the company's stock, valued at $38,048,274.25. This trade represents a 3.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the transaction, the director now directly owns 5,042 shares of the company's stock, valued at $316,133.40. This trade represents a 99.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,243,727 shares of company stock valued at $109,688,747 in the last three months. Company insiders own 14.47% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Robinhood Markets in the first quarter worth about $3,475,000. Pandora Wealth Inc. bought a new stake in shares of Robinhood Markets in the first quarter worth approximately $33,000. Sierra Summit Advisors LLC bought a new stake in shares of Robinhood Markets in the first quarter worth approximately $8,352,000. Koss Olinger Consulting LLC bought a new stake in shares of Robinhood Markets in the first quarter worth approximately $416,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Robinhood Markets in the first quarter worth approximately $1,038,000. 93.27% of the stock is 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.