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

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

Wall Street Analyst Weigh In

HOOD has been the subject of a number of research reports. Argus reduced their price objective on Robinhood Markets from $102.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Barclays reduced their price objective on Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research note on Friday, March 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $110.00 price objective on shares of Robinhood Markets in a research note on Tuesday, June 9th. Finally, Truist Financial reduced their price objective on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $110.73.

Robinhood Markets Stock Up 5.3%

The company has a market cap of $88.36 billion, a PE ratio of 47.40, a PEG ratio of 2.33 and a beta of 2.35. The company has a 50-day moving average of $80.09 and a 200-day moving average of $92.02.

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

Insider Buying and Selling at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $83.68, for a total transaction of $836,800.00. Following the sale, the insider directly owned 481,396 shares in the company, valued at approximately $40,283,217.28. This trade represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 57,898 shares of Robinhood Markets stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $89.63, for a total value of $5,189,397.74. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders purchased 680,000 shares of company stock valued at $55,306,560 and sold 629,500 shares valued at $47,149,144. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

A number of hedge funds have recently bought and sold shares of the business. Militia Capital Management LLC bought a new stake in Robinhood Markets during the first quarter worth $1,641,000. Rathbones Group PLC raised its stake in shares of Robinhood Markets by 3.3% in the first quarter. Rathbones Group PLC now owns 5,129 shares of the company’s stock valued at $355,000 after buying an additional 165 shares during the period. Glenmede Trust Co. NA raised its stake in shares of Robinhood Markets by 22.5% in the first quarter. Glenmede Trust Co. NA now owns 10,426 shares of the company’s stock valued at $723,000 after buying an additional 1,914 shares during the period. Summitry LLC bought a new stake in shares of Robinhood Markets in the first quarter valued at $432,000. Finally, Groupama Asset Managment bought a new stake in shares of Robinhood Markets in the first quarter valued at $260,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Company Profile

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.