Robinhood Markets (NASDAQ:HOOD) Stock Price Up 2.5% – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price rose 2.5% during trading on Tuesday . The stock traded as high as $42.00 and last traded at $42.65. Approximately 11,724,988 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 21,861,005 shares. The stock had previously closed at $41.62.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HOOD shares. Deutsche Bank Aktiengesellschaft lowered their price target on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Compass Point assumed coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They set a “buy” rating and a $61.00 price objective on the stock. Barclays boosted their price target on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Raymond James initiated coverage on Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating for the company. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.24.

Robinhood Markets Stock Up 1.2 %

The stock’s 50-day moving average price is $48.73 and its 200 day moving average price is $38.63. The company has a market cap of $37.79 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

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

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 228,645 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $40.37, for a total value of $9,230,398.65. Following the sale, the director now owns 5,042 shares in the company, valued at approximately $203,545.54. This trade represents a 97.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 500,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $50.77, for a total transaction of $25,385,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,205,655 shares of company stock worth $113,702,448 in the last 90 days. 19.95% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

A number of hedge funds have recently modified their holdings of HOOD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Robinhood Markets by 8.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,178,669 shares of the company’s stock valued at $51,024,000 after purchasing an additional 177,395 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Robinhood Markets by 31.0% during the 3rd quarter. Captrust Financial Advisors now owns 18,942 shares of the company’s stock valued at $444,000 after acquiring an additional 4,487 shares in the last quarter. Verition Fund Management LLC increased its stake in Robinhood Markets by 34.2% in the third quarter. Verition Fund Management LLC now owns 81,843 shares of the company’s stock valued at $1,917,000 after acquiring an additional 20,838 shares during the period. Benjamin Edwards Inc. raised its position in Robinhood Markets by 13,581.5% in the third quarter. Benjamin Edwards Inc. now owns 73,059 shares of the company’s stock worth $1,711,000 after purchasing an additional 72,525 shares in the last quarter. Finally, Itau Unibanco Holding S.A. lifted its stake in Robinhood Markets by 246.9% during the third quarter. Itau Unibanco Holding S.A. now owns 2,390 shares of the company’s stock worth $56,000 after purchasing an additional 1,701 shares during the period. 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.