Robinhood Markets (NASDAQ:HOOD) Trading Up 8.2% – Time to Buy?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) shot up 8.2% during trading on Tuesday . The company traded as high as $112.45 and last traded at $112.09. Approximately 24,504,386 shares traded hands during trading, a decline of 13% from the average session volume of 28,193,037 shares. The stock had previously closed at $103.62.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of recent research reports. Sanford C. Bernstein lifted their price objective on Robinhood Markets from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, July 20th. Piper Sandler restated an “overweight” rating on shares of Robinhood Markets in a report on Thursday, July 2nd. Wall Street Zen upgraded shares of Robinhood Markets from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. BTIG Research reissued a “buy” rating and issued a $125.00 target price on shares of Robinhood Markets in a research report on Thursday, July 30th. Finally, Citizens Jmp restated a “market outperform” rating and set a $155.00 target price on shares of Robinhood Markets in a research report on Thursday, July 30th. Twenty-one analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and a consensus target price of $120.52.

Robinhood Markets Stock Performance

The company has a market capitalization of $99.13 billion, a P/E ratio of 48.67, a price-to-earnings-growth ratio of 2.04 and a beta of 2.35. The business has a 50 day moving average of $101.50 and a 200 day moving average of $86.79. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.18. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the company earned $0.42 EPS. The company’s quarterly revenue was up 32.5% compared to the same quarter last year. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 2.04 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other news, insider Steven M. Quirk sold 19,377 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $119.96, for a total value of $2,324,464.92. Following the sale, the insider owned 62,612 shares of the company’s stock, valued at approximately $7,510,935.52. This represents a 23.63% 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 Meyer Malka bought 250,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were acquired at an average price of $80.74 per share, with a total value of $20,185,000.00. Following the transaction, the director directly owned 3,924,427 shares of the company’s stock, valued at approximately $316,858,235.98. This trade represents a 6.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 612,704 shares of company stock valued at $66,675,612 over the last three months. Corporate insiders own 13.48% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of hedge funds have recently added to or reduced their stakes in HOOD. Bogart Wealth LLC lifted its position in Robinhood Markets by 8.5% during the 4th quarter. Bogart Wealth LLC now owns 1,463 shares of the company’s stock worth $165,000 after acquiring an additional 114 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Robinhood Markets by 2.8% in the 4th quarter. Sivia Capital Partners LLC now owns 4,310 shares of the company’s stock worth $487,000 after buying an additional 117 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in Robinhood Markets by 90.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 268 shares of the company’s stock valued at $28,000 after buying an additional 127 shares during the last quarter. Constant Guidance Financial LLC grew its stake in shares of Robinhood Markets by 5.3% during the fourth quarter. Constant Guidance Financial LLC now owns 2,571 shares of the company’s stock valued at $291,000 after acquiring an additional 129 shares in the last quarter. Finally, MCF Advisors LLC grew its stake in Robinhood Markets by 52.6% during the 4th quarter. MCF Advisors LLC now owns 377 shares of the company’s stock valued at $43,000 after purchasing an additional 130 shares in the last quarter. 93.27% of the stock is 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.