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

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price traded up 1.5% during trading on Wednesday . The company traded as high as $65.74 and last traded at $65.90. 9,120,628 shares were traded during mid-day trading, a decline of 65% from the average session volume of 26,283,988 shares. The stock had previously closed at $64.91.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Morgan Stanley lifted their target price on Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. Compass Point started coverage on Robinhood Markets in a report on Wednesday, March 19th. They set a "buy" rating and a $61.00 price objective for the company. Citigroup dropped their price objective on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. The Goldman Sachs Group boosted their price objective on Robinhood Markets from $56.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, JMP Securities restated a "market outperform" rating and set a $70.00 price objective on shares of Robinhood Markets in a report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and an average target price of $55.41.

Robinhood Markets Stock Performance

The firm has a market capitalization of $57.54 billion, a PE ratio of 41.89, a PEG ratio of 1.05 and a beta of 2.15. The company has a fifty day simple moving average of $46.35 and a two-hundred day simple moving average of $44.22.

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 company had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The company's revenue was up 50.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 123,272 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the sale, the insider now owns 298,826 shares in the company, valued at approximately $16,674,490.80. The trade was a 29.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 107,608 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $60.41, for a total value of $6,500,599.28. Following the sale, the director now owns 7,863 shares in the company, valued at approximately $475,003.83. The trade was a 93.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,897,622 shares of company stock valued at $86,956,156. Corporate insiders own 14.47% of the company's stock.

Institutional Trading of Robinhood Markets

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after buying an additional 5,874,701 shares during the last quarter. FMR LLC boosted its stake in shares of Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after buying an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC boosted its position in Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after purchasing an additional 273,860 shares in the last quarter. Geode Capital Management LLC boosted its position in Robinhood Markets by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock worth $455,464,000 after purchasing an additional 555,299 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after purchasing an additional 3,091,514 shares in the last quarter. Hedge funds and other institutional investors 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.

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