Robinhood Markets (NASDAQ:HOOD) Stock Price Up 2.7% - Should You Buy?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) rose 2.7% during trading on Wednesday . The stock traded as high as $94.65 and last traded at $93.73. Approximately 18,728,735 shares changed hands during trading, a decline of 37% from the average daily volume of 29,771,485 shares. The stock had previously closed at $91.27.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of recent analyst reports. Morgan Stanley upped their price objective on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $60.00 price target on shares of Robinhood Markets in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Mizuho upped their target price on shares of Robinhood Markets from $80.00 to $99.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $71.00 target price on shares of Robinhood Markets in a research note on Tuesday, May 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.06.

Robinhood Markets Price Performance

The stock's 50 day moving average is $72.49 and its two-hundred day moving average is $54.91. The stock has a market capitalization of $87.10 billion, a PE ratio of 55.89, a price-to-earnings-growth ratio of 4.77 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The company's revenue was up 50.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 earnings per share. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven M. Quirk sold 104,887 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the transaction, the insider directly owned 228,621 shares in the company, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,472,702 shares of company stock worth $179,396,832. Corporate insiders own 14.47% of the company's stock.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently made changes to their positions in the company. Silver Oak Securities Incorporated acquired a new position in Robinhood Markets during the second quarter worth approximately $1,397,000. UMB Bank n.a. grew its position in shares of Robinhood Markets by 380,633.3% during the second quarter. UMB Bank n.a. now owns 45,688 shares of the company's stock worth $4,278,000 after acquiring an additional 45,676 shares during the last quarter. SeaCrest Wealth Management LLC increased its holdings in shares of Robinhood Markets by 79.1% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 33,533 shares of the company's stock valued at $3,140,000 after acquiring an additional 14,811 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in Robinhood Markets in the 2nd quarter valued at $951,479,000. Finally, IFM Investors Pty Ltd raised its position in Robinhood Markets by 27.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 137,434 shares of the company's stock valued at $12,868,000 after purchasing an additional 29,747 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Company Profile

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.