Robinhood Markets (NASDAQ:HOOD) Stock Price Up 4.7% – Still a Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price shot up 4.7% on Wednesday . The company traded as high as $42.48 and last traded at $41.97. 19,948,785 shares traded hands during trading, a decline of 3% from the average session volume of 20,648,750 shares. The stock had previously closed at $40.10.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HOOD shares. Raymond James assumed coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating on the stock. Cantor Fitzgerald began coverage on Robinhood Markets in a research note on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price target on the stock. KeyCorp increased their price target on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.29.

Robinhood Markets Stock Performance

The firm has a market capitalization of $36.97 billion, a P/E ratio of 26.82, a PEG ratio of 1.05 and a beta of 2.14. The firm has a 50 day simple moving average of $48.96 and a two-hundred day simple moving average of $36.99.

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

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of Robinhood Markets stock in a transaction 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 sale, the insider now directly owns 806,955 shares in the company, valued at $30,268,882.05. The trade was a 27.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Insiders have sold 2,979,251 shares of company stock worth $142,232,560 in the last 90 days. Insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

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

Robinhood Markets Company Profile

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.