Robinhood Markets (NASDAQ:HOOD) Trading Up 0% – Still a Buy?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) rose 0% on Wednesday . The stock traded as high as $43.15 and last traded at $42.17. Approximately 12,937,242 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 21,969,011 shares. The stock had previously closed at $42.16.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HOOD. Morgan Stanley raised their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. JMP Securities increased their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft dropped their price target on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Piper Sandler increased their price objective on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, KeyCorp boosted their target price on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.82.

Robinhood Markets Trading Up 2.5 %

The firm has a 50 day moving average of $48.88 and a two-hundred day moving average of $38.60. The stock has a market capitalization of $38.26 billion, a PE ratio of 27.52, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced 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%. Equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 228,645 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $40.37, for a total value of $9,230,398.65. Following the sale, the director now directly owns 5,042 shares in the company, valued at $203,545.54. This represents a 97.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of Robinhood Markets stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $40.45, for a total value of $4,045,000.00. Following the sale, the insider now owns 731,642 shares of the company’s stock, valued at approximately $29,594,918.90. This represents a 12.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,955,655 shares of company stock valued at $143,072,448 over the last quarter. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors have recently modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets in the 4th quarter worth approximately $26,000. CoreCap Advisors LLC grew its position in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV increased its stake in Robinhood Markets by 750.0% in the fourth 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 during the last quarter. Colonial Trust Co SC purchased a new position in Robinhood Markets during the fourth quarter worth about $34,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Robinhood Markets by 139.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock worth $36,000 after buying an additional 498 shares during 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.