Robinhood Markets (NASDAQ:HOOD) Trading Up 4.5% - Time to Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price was up 4.5% during trading on Friday . The company traded as high as $113.44 and last traded at $110.18. Approximately 33,308,842 shares traded hands during trading, an increase of 8% from the average daily volume of 30,764,908 shares. The stock had previously closed at $105.45.

Analyst Ratings Changes

A number of equities research analysts have commented on HOOD shares. Compass Point raised their price target on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Morgan Stanley raised their price objective on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday. JMP Securities raised their price objective on Robinhood Markets from $70.00 to $125.00 and gave the company a "market outperform" rating in a research report on Monday. Finally, The Goldman Sachs Group raised their price objective on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research report on Monday, July 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.29.

Robinhood Markets Stock Up 2.4%

The stock has a market cap of $95.64 billion, a PE ratio of 61.43, a price-to-earnings-growth ratio of 5.26 and a beta of 2.36. The firm has a 50 day moving average price of $77.63 and a 200 day moving average price of $57.05.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced 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 firm had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The business's quarterly revenue was up 50.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 EPS. Equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $93.51, for a total value of $548,342.64. Following the completion of the sale, the chief technology officer directly owned 8,908 shares in the company, valued at $832,987.08. This trade represents a 39.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven M. Quirk sold 92,257 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total value of $7,838,154.72. Following the transaction, the insider owned 136,364 shares in the company, valued at approximately $11,585,485.44. This trade represents a 40.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,364,145 shares of company stock worth $181,837,741 over the last ninety days. 14.47% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently made changes to their positions in HOOD. Whipplewood Advisors LLC increased its holdings in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after buying an additional 508 shares during the period. Hemington Wealth Management increased its holdings in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after buying an additional 218 shares during the period. Wayfinding Financial LLC acquired a new position in Robinhood Markets in the 1st quarter worth approximately $30,000. CoreCap Advisors LLC increased its holdings in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after buying an additional 550 shares during the period. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after purchasing an additional 750 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

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.

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