Robinhood Markets (NASDAQ:HOOD) Shares Up 8.6% – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares rose 8.6% during trading on Friday . The stock traded as high as $38.55 and last traded at $39.13. Approximately 15,389,894 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 33,051,563 shares. The stock had previously closed at $36.02.

Wall Street Analyst Weigh In

HOOD has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price objective on Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Needham & Company LLC raised their price objective on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Mizuho raised their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Finally, Piper Sandler lifted their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.31.

Robinhood Markets Price Performance

The stock has a 50 day simple moving average of $48.88 and a two-hundred day simple moving average of $36.49. The company has a market cap of $34.75 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the sale, the chief technology officer now owns 17,559 shares in the company, valued at $821,936.79. The trade was a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the completion of the sale, the director now owns 5,042 shares in the company, valued at $316,133.40. This represents a 99.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,985,127 shares of company stock worth $142,455,378 over the last quarter. 19.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets in the 4th quarter valued at $26,000. True Wealth Design LLC purchased a new stake in shares of Robinhood Markets in the 3rd quarter valued at $30,000. CoreCap Advisors LLC raised its holdings in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after buying an additional 550 shares during the period. Creative Financial Designs Inc. ADV raised its holdings in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after buying an additional 750 shares during the period. Finally, Colonial Trust Co SC purchased a new stake in shares of Robinhood Markets in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

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.