Robinhood Markets (NASDAQ:HOOD) Trading 1.5% Higher - Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares rose 1.5% during mid-day trading on Wednesday . The stock traded as high as $50.51 and last traded at $49.42. Approximately 13,960,191 shares traded hands during trading, a decline of 46% from the average daily volume of 25,865,252 shares. The stock had previously closed at $48.69.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several research reports. Barclays decreased their target price 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. JMP Securities reiterated a "market outperform" rating and set a $70.00 price objective on shares of Robinhood Markets in a research report on Thursday, May 1st. Mizuho upped their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Citigroup lowered their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Finally, Needham & Company LLC dropped their price target on Robinhood Markets from $62.00 to $58.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and an average price target of $53.24.

Robinhood Markets Trading Up 0.6 %

The stock has a fifty day simple moving average of $43.07 and a 200-day simple moving average of $41.96. The company has a market capitalization of $43.38 billion, a PE ratio of 31.03, 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). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The company had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. During the same period last year, the business posted $0.18 earnings per share. The company's quarterly revenue was up 50.0% on a year-over-year basis. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 90,866 shares of the company's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the completion of the sale, the director now directly owns 5,042 shares of the company's stock, valued at $279,024.28. This represents a 94.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the sale, the chief technology officer now directly owns 17,559 shares of the company's stock, valued at $821,936.79. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,309,593 shares of company stock valued at $113,525,021 over the last 90 days. 19.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds have recently modified their holdings of HOOD. FMR LLC raised its position in Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC boosted its stake in shares of Robinhood Markets by 1.1% during the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after acquiring an additional 273,860 shares during the period. Geode Capital Management LLC boosted its stake in Robinhood Markets by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after purchasing an additional 555,299 shares during the period. Renaissance Technologies LLC raised its holdings in Robinhood Markets by 34.4% in the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after acquiring an additional 3,091,514 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Robinhood Markets by 0.5% during the 4th quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock worth $398,667,000 after buying an additional 52,700 shares in the last quarter. 93.27% of the stock is owned by 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.

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