Robinhood Markets (NASDAQ:HOOD) Trading 3.7% Higher – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD) was up 3.7% during trading on Monday . The stock traded as high as $40.42 and last traded at $40.67. Approximately 13,146,263 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 33,109,984 shares. The stock had previously closed at $39.24.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. KeyCorp lifted their target price on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Raymond James started coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating on the stock. Citigroup lifted their price target on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley increased their price target on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.31.

Robinhood Markets Stock Up 8.0 %

The company has a market capitalization of $37.54 billion, a price-to-earnings ratio of 27.04, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The business has a 50-day moving average price of $48.88 and a two-hundred day moving average price of $36.61.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the sale, the insider now owns 806,955 shares of the company’s stock, valued at $30,268,882.05. This represents a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,985,127 shares of company stock valued at $142,455,378. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank increased its holdings in Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after buying an additional 16,219 shares during the last quarter. IFP Advisors Inc raised its position in Robinhood Markets by 601.1% in the 4th 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 period. Everence Capital Management Inc. bought a new stake in shares of Robinhood Markets during the fourth quarter worth $634,000. Charles Schwab Investment Management Inc. lifted its holdings in Robinhood Markets by 3.0% during 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 in the last quarter. Finally, Atomi Financial Group Inc. grew its stake in Robinhood Markets by 20.7% in the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after acquiring an additional 92,613 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

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.