Robinhood Markets (NASDAQ:HOOD) Stock Price Up 9.4% – Time to Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD) rose 9.4% during mid-day trading on Wednesday . The stock traded as high as $50.05 and last traded at $50.22. Approximately 19,281,833 shares traded hands during trading, a decline of 28% from the average daily volume of 26,669,043 shares. The stock had previously closed at $45.92.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HOOD shares. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. JMP Securities raised their price target on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods lifted their price objective on shares of Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and an average price target of $59.53.

Robinhood Markets Stock Performance

The company has a market capitalization of $43.58 billion, a P/E ratio of 31.39, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13. The firm’s fifty day moving average is $47.64 and its 200-day moving average is $34.46.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (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%. As a group, analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Baiju Bhatt sold 522,180 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the sale, the director now directly owns 5,042 shares of the company’s stock, valued at $316,133.40. The trade was a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,643,879 shares of company stock worth $207,663,007. 19.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Toronto Dominion Bank grew its position in Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after acquiring an additional 16,219 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Robinhood Markets during the 4th quarter valued at about $634,000. Atomi Financial Group Inc. raised its holdings in shares of Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after buying an additional 92,613 shares in the last quarter. Requisite Capital Management LLC bought a new position in Robinhood Markets during the fourth quarter valued at approximately $266,000. Finally, Baker Avenue Asset Management LP grew its position in Robinhood Markets by 77.9% during the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after acquiring an additional 203,354 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

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.