Robinhood Markets (NASDAQ:HOOD) Stock Price Up 5.3% – Time to Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares shot up 5.3% during mid-day trading on Monday . The stock traded as high as $100.87 and last traded at $98.12. 36,238,038 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 30,026,877 shares. The stock had previously closed at $93.19.

Analyst Ratings Changes

Several brokerages have issued reports on HOOD. Sanford C. Bernstein restated an “outperform” rating and issued a $130.00 target price on shares of Robinhood Markets in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods lowered their target price on Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Truist Financial lowered their target price on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Loop Capital set a $94.00 target price on Robinhood Markets in a research note on Wednesday, May 27th. Finally, Morgan Stanley lowered their target price on Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Friday, April 10th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.73.

Robinhood Markets Stock Performance

The business has a 50 day moving average of $80.09 and a 200-day moving average of $92.02. The company has a market capitalization of $88.36 billion, a P/E ratio of 47.40, a price-to-earnings-growth ratio of 2.33 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm earned $0.37 earnings per share. Robinhood Markets’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 375,000 shares of the business’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $69.83, for a total transaction of $26,186,250.00. Following the completion of the transaction, the chief executive officer directly owned 375,000 shares in the company, valued at $26,186,250. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 67,422 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total value of $5,082,270.36. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders bought 680,000 shares of company stock valued at $55,306,560 and sold 629,500 shares valued at $47,149,144. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently modified their holdings of the company. CYBER HORNET ETFs LLC boosted its holdings in shares of Robinhood Markets by 527.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares in the last quarter. MV Capital Management Inc. purchased a new position in shares of Robinhood Markets in the 4th quarter worth about $27,000. Swiss RE Ltd. purchased a new position in shares of Robinhood Markets in the 4th quarter worth about $27,000. Elyxium Wealth LLC purchased a new stake in Robinhood Markets during the 4th quarter valued at about $27,000. Finally, Sound Income Strategies LLC boosted its holdings in Robinhood Markets by 152.6% during the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock valued at $26,000 after acquiring an additional 145 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.