Robinhood Markets (NASDAQ:HOOD) Stock Price Up 3.7% – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price shot up 3.7% during trading on Monday . The stock traded as high as $40.42 and last traded at $40.67. 13,146,263 shares were traded during trading, a decline of 60% from the average session volume of 33,109,984 shares. The stock had previously closed at $39.24.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of recent research reports. Citigroup upped their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Mizuho upped their price target on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. 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 research note on Tuesday, February 18th. Raymond James initiated coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating on the stock. Finally, The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $61.31.

Robinhood Markets Trading Down 4.6 %

The business’s 50 day simple moving average is $48.86 and its two-hundred day simple moving average is $36.90. The firm has a market capitalization of $35.51 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) 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, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the sale, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. The trade was a 99.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,985,127 shares of company stock worth $142,455,378. 19.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its holdings 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 worth $1,499,248,000 after acquiring an additional 26,107,934 shares during the last quarter. Norges Bank purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at $329,598,000. GQG Partners LLC bought a new position in shares of Robinhood Markets in the fourth quarter worth about $302,325,000. Artisan Partners Limited Partnership bought a new stake in Robinhood Markets during the 4th quarter valued at about $152,949,000. Finally, Price T Rowe Associates Inc. MD boosted its position in 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 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.