Robinhood Markets (NASDAQ:HOOD) Trading Up 4.7% – Still a Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD) rose 4.7% during trading on Wednesday . The stock traded as high as $42.48 and last traded at $41.97. 19,948,785 shares changed hands during trading, a decline of 3% from the average session volume of 20,648,750 shares. The stock had previously closed at $40.10.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HOOD shares. Keefe, Bruyette & Woods increased their target price on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Compass Point initiated coverage on shares of Robinhood Markets in a research report on Wednesday. They issued a “buy” rating and a $61.00 price objective on the stock. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Raymond James began coverage on Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

Robinhood Markets Trading Up 5.1 %

The business has a 50-day moving average price of $48.86 and a 200-day moving average price of $36.90. The firm has a market cap of $37.30 billion, a P/E ratio of 26.71, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping 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%. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was 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 can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the sale, the chief technology officer now owns 17,559 shares of the company’s stock, 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. Insiders sold 2,985,127 shares of company stock worth $142,455,378 in the last three months. 19.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kilter Group LLC purchased a new stake in Robinhood Markets in the fourth quarter valued at about $240,000. Siemens Fonds Invest GmbH purchased a new stake in Robinhood Markets in the fourth quarter valued at about $217,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Robinhood Markets in the fourth quarter valued at about $4,886,000. Employees Retirement System of Texas purchased a new position in shares of Robinhood Markets in the fourth quarter worth about $1,609,000. Finally, Windmill Hill Asset Management Ltd purchased a new position in shares of Robinhood Markets in the fourth quarter worth about $493,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.