Robinhood Markets (NASDAQ:HOOD) Shares Up 1.1% – Time to Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price rose 1.1% during mid-day trading on Thursday . The company traded as high as $112.07 and last traded at $109.76. 13,688,287 shares changed hands during trading, a decline of 51% from the average daily volume of 28,008,619 shares. The stock had previously closed at $108.54.

Analyst Upgrades and Downgrades

HOOD has been the topic of several analyst reports. Zacks Research upgraded shares of Robinhood Markets from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Citigroup reiterated a “market outperform” rating on shares of Robinhood Markets in a research report on Thursday, May 28th. KeyCorp increased their price target on Robinhood Markets from $100.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Needham & Company LLC dropped their price objective on Robinhood Markets from $123.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods decreased their price objective on Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a report on Wednesday, April 29th. Twenty-one research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.52.

Robinhood Markets Price Performance

The stock has a fifty day simple moving average of $101.50 and a 200-day simple moving average of $86.79. The company has a market capitalization of $98.68 billion, a price-to-earnings ratio of 48.35, a P/E/G ratio of 2.04 and a beta of 2.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.44 by $0.18. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the company earned $0.42 earnings per share. Robinhood Markets’s quarterly revenue was up 32.5% compared to the same quarter last year. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 2.04 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 the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $90.42, for a total value of $904,200.00. Following the sale, the insider owned 461,396 shares in the company, valued at approximately $41,719,426.32. The trade was a 2.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula Loop sold 8,336 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $120.00, for a total transaction of $1,000,320.00. Following the sale, the director directly owned 63,674 shares in the company, valued at approximately $7,640,880. The trade was a 11.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 612,704 shares of company stock worth $66,675,612. Insiders own 13.48% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of institutional investors have recently bought and sold shares of the business. Truist Financial Corp increased its position in Robinhood Markets by 88.9% during the fourth quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock worth $16,455,000 after buying an additional 68,458 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Robinhood Markets by 86.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock worth $11,406,000 after buying an additional 46,688 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Robinhood Markets by 196.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 722,857 shares of the company’s stock valued at $81,755,000 after purchasing an additional 478,919 shares in the last quarter. Swiss Life Asset Management Ltd lifted its holdings in shares of Robinhood Markets by 107.8% during the 4th quarter. Swiss Life Asset Management Ltd now owns 272,604 shares of the company’s stock valued at $30,832,000 after acquiring an additional 141,440 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Robinhood Markets by 4.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,742,369 shares of the company’s stock valued at $200,738,000 after buying an additional 76,514 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other 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.