Robinhood Markets (NASDAQ:HOOD) Trading Up 1.7% - Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price shot up 1.7% during trading on Friday . The stock traded as high as $61.90 and last traded at $61.72. 9,236,957 shares were traded during mid-day trading, a decline of 65% from the average session volume of 26,322,625 shares. The stock had previously closed at $60.68.

Analyst Upgrades and Downgrades

HOOD has been the subject of several analyst reports. KeyCorp reduced their target price on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Piper Sandler raised their target price on Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Wolfe Research downgraded Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Needham & Company LLC lifted their price objective on Robinhood Markets from $58.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, The Goldman Sachs Group boosted their target price on Robinhood Markets from $56.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $55.41.

Robinhood Markets Stock Up 1.3%

The firm has a market cap of $54.45 billion, a P/E ratio of 39.19, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. The firm has a fifty day moving average of $44.76 and a 200-day moving average of $43.31.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The firm had revenue of $927.00 million for 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%. Robinhood Markets's revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of Robinhood Markets stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the transaction, the insider now directly owns 706,642 shares of the company's stock, valued at approximately $42,942,634.34. The trade was a 6.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 123,272 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.80, for a total value of $6,878,577.60. Following the completion of the transaction, the insider now directly owns 298,826 shares in the company, valued at $16,674,490.80. This represents a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,947,622 shares of company stock worth $89,994,656 in the last 90 days. Company insiders own 14.47% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc raised its stake in shares of Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock worth $164,000 after purchasing an additional 3,769 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock worth $175,857,000 after buying an additional 138,267 shares in the last quarter. Atomi Financial Group Inc. raised its position in shares of Robinhood Markets by 20.7% in the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company's stock worth $20,154,000 after buying an additional 92,613 shares in the last quarter. Requisite Capital Management LLC purchased a new stake in Robinhood Markets during the fourth quarter valued at about $266,000. Finally, Aigen Investment Management LP increased its holdings in shares of Robinhood Markets by 161.2% in the fourth quarter. Aigen Investment Management LP now owns 85,868 shares of the company's stock worth $3,199,000 after buying an additional 52,988 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

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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