Robinhood Markets (NASDAQ:HOOD) Trading Up 1.4% – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares shot up 1.4% during mid-day trading on Thursday . The stock traded as high as $45.41 and last traded at $45.35. 22,877,631 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 21,463,227 shares. The stock had previously closed at $44.73.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Compass Point started coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 target price for the company. 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. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Mizuho boosted their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Citigroup raised their price objective on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.82.

Robinhood Markets Trading Down 4.7 %

The firm has a market cap of $37.12 billion, a PE ratio of 26.70, a P/E/G ratio of 1.05 and a beta of 2.14. The business has a fifty day moving average price of $49.16 and a 200 day moving average price of $38.06.

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

Insider Activity

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the transaction, the chief technology officer now owns 17,559 shares in the company, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,955,655 shares of company stock valued at $143,072,448. 19.95% of the stock is currently owned by company insiders.

Institutional Trading of Robinhood Markets

Several hedge funds have recently modified their holdings of the business. New Wave Wealth Advisors LLC purchased a new position in Robinhood Markets in the fourth quarter worth $26,000. CoreCap Advisors LLC grew its stake in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV increased 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 purchasing an additional 750 shares in the last quarter. Colonial Trust Co SC acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $34,000. Finally, Silicon Valley Capital Partners acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $37,000. 93.27% of the stock is owned by institutional investors and hedge funds.

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.