Robinhood Markets (NASDAQ:HOOD) Trading 1.9% Higher - Time to Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shot up 1.9% on Thursday . The stock traded as high as $38.68 and last traded at $37.80. 7,552,197 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 16,974,037 shares. The stock had previously closed at $37.08.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HOOD. Citigroup increased their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a "neutral" rating in a report on Friday, September 27th. Needham & Company LLC restated a "buy" rating and issued a $52.00 price objective (up from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. JMP Securities upped their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a "market outperform" rating in a report on Tuesday, November 12th. KeyCorp raised their price target on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $38.13.

Robinhood Markets Stock Performance

The stock has a 50-day moving average of $32.87 and a two-hundred day moving average of $25.50. The company has a market cap of $32.65 billion, a P/E ratio of 62.61, a P/E/G ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same period in the previous year, the company earned ($0.09) earnings per share. Robinhood Markets's quarterly revenue was up 36.4% on a year-over-year basis. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business's stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $22.37, for a total transaction of $279,625.00. Following the completion of the transaction, the insider now directly owns 1,057,500 shares of the company's stock, valued at $23,656,275. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the firm's stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $22.88, for a total transaction of $5,720,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,037,689 shares of company stock valued at $177,092,487. 19.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HOOD. HM Payson & Co. boosted its stake in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company's stock worth $28,000 after acquiring an additional 410 shares during the last quarter. Eastern Bank purchased a new position in Robinhood Markets during the third quarter valued at $30,000. True Wealth Design LLC bought a new stake in Robinhood Markets during the third quarter valued at about $30,000. ORG Wealth Partners LLC bought a new stake in Robinhood Markets during the third quarter valued at about $33,000. Finally, International Assets Investment Management LLC bought a new position in shares of Robinhood Markets in the second quarter worth about $40,000. Institutional investors own 93.27% of the company's stock.

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.