Robinhood Markets (NASDAQ:HOOD) Stock Price Up 7.5% – Time to Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares were up 7.5% during mid-day trading on Thursday . The company traded as high as $52.81 and last traded at $52.50. Approximately 21,939,768 shares were traded during trading, a decline of 19% from the average daily volume of 27,162,523 shares. The stock had previously closed at $48.85.

Analyst Ratings Changes

Several research firms recently weighed in on HOOD. JPMorgan Chase & Co. lifted their price objective on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Raymond James assumed coverage on Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating for the company. Sanford C. Bernstein lifted their price target on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $59.53.

Robinhood Markets Trading Down 0.1 %

The stock has a market capitalization of $43.12 billion, a PE ratio of 31.07, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13. The company’s 50-day moving average is $47.87 and its 200 day moving average is $34.56.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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 forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the transaction, the insider now owns 706,642 shares of the company’s stock, valued at $42,942,634.34. This trade represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 186,514 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the completion of the sale, the director now directly owns 2,521 shares in the company, valued at approximately $96,125.73. The trade was a 98.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,643,879 shares of company stock valued at $207,663,007. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors have recently modified their holdings of the stock. Creative Planning grew its holdings in Robinhood Markets by 34.6% during the third quarter. Creative Planning now owns 35,384 shares of the company’s stock worth $829,000 after acquiring an additional 9,094 shares during the period. Raymond James & Associates grew its stake in shares of Robinhood Markets by 76.6% during the 3rd quarter. Raymond James & Associates now owns 99,278 shares of the company’s stock worth $2,325,000 after purchasing an additional 43,075 shares during the period. Signaturefd LLC increased its holdings in shares of Robinhood Markets by 16.5% during the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after purchasing an additional 487 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Robinhood Markets by 3.2% during the 3rd quarter. Private Advisor Group LLC now owns 84,777 shares of the company’s stock valued at $1,985,000 after purchasing an additional 2,644 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Robinhood Markets by 301.5% in the 3rd quarter. International Assets Investment Management LLC now owns 7,026 shares of the company’s stock valued at $165,000 after purchasing an additional 5,276 shares during the period. Hedge funds and other 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.