Robinhood Markets (NASDAQ:HOOD) Shares Up 2% - Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price shot up 2% during mid-day trading on Monday . The company traded as high as $45.09 and last traded at $44.56. 17,772,574 shares were traded during trading, a decline of 25% from the average session volume of 23,813,825 shares. The stock had previously closed at $43.68.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several recent research reports. Compass Point started coverage on Robinhood Markets in a report on Wednesday, March 19th. They set a "buy" rating and a $61.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $39.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Morgan Stanley lowered Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 price objective on the stock. in a research note on Tuesday, April 8th. Barclays decreased their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Finally, Cantor Fitzgerald began coverage on Robinhood Markets in a research report on Thursday, March 6th. They issued an "overweight" rating and a $69.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $55.06.

Robinhood Markets Stock Performance

The business's 50 day simple moving average is $45.22 and its 200-day simple moving average is $40.05. The company has a market cap of $36.46 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 500,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $50.77, for a total transaction of $25,385,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 223,072 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $41.24, for a total transaction of $9,199,489.28. Following the transaction, the director now owns 7,863 shares of the company's stock, valued at approximately $324,270.12. This represents a 96.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,784,193 shares of company stock worth $137,892,219 over the last 90 days. Insiders own 19.95% of the company's stock.

Institutional Trading of Robinhood Markets

Hedge funds have recently added to or reduced their stakes in the stock. 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. Everence Capital Management Inc. purchased a new position in Robinhood Markets during the fourth quarter worth about $634,000. Charles Schwab Investment Management Inc. increased its stake in Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock valued at $175,857,000 after buying an additional 138,267 shares during the last quarter. Atomi Financial Group Inc. boosted its position in 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 purchasing an additional 92,613 shares during the last quarter. Finally, Requisite Capital Management LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at $266,000. Institutional investors and hedge funds 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.