Robinhood Markets (NASDAQ:HOOD) Stock Price Up 9.4% – Should You Buy?

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HOOD. Piper Sandler raised their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Citigroup raised their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Wolfe Research downgraded shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods lifted their price objective on Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.53.

Robinhood Markets Trading Up 7.4 %

The business’s 50-day simple moving average is $47.64 and its 200 day simple moving average is $34.46. The company has a market capitalization of $43.60 billion, a P/E ratio of 31.39, a P/E/G ratio of 1.05 and a beta of 2.13.

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 return on equity of 13.53% and a net margin of 47.81%. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, Director Meyer Malka sold 1,535,681 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total value of $61,596,164.91. Following the sale, the director now owns 4,974,238 shares of the company’s stock, valued at $199,516,686.18. The trade was a 23.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Baiju Bhatt sold 186,514 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total value of $7,111,778.82. Following the transaction, the director now owns 2,521 shares of the company’s stock, valued at $96,125.73. This represents a 98.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,643,879 shares of company stock valued at $207,663,007. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors have recently modified their holdings of the business. FMR LLC increased its position in shares of Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after buying an additional 26,107,934 shares in the last quarter. Norges Bank acquired a new position in shares of Robinhood Markets during the 4th quarter worth approximately $329,598,000. GQG Partners LLC bought a new position in Robinhood Markets in the 4th quarter valued at about $302,325,000. Artisan Partners Limited Partnership bought a new position in Robinhood Markets during the fourth quarter worth about $152,949,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Robinhood Markets by 335.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock valued at $193,202,000 after buying an additional 3,994,745 shares in the last quarter. Institutional investors and hedge funds 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.