Robinhood Markets (NASDAQ:HOOD) Trading Up 2.5% – Time to Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price traded up 2.5% during mid-day trading on Wednesday . The stock traded as high as $39.67 and last traded at $37.25. 21,340,911 shares were traded during mid-day trading, a decline of 34% from the average session volume of 32,489,199 shares. The stock had previously closed at $36.36.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HOOD. Citigroup upped their target price on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price objective for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Raymond James initiated coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating on the stock. Piper Sandler increased their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.31.

Robinhood Markets Trading Up 4.4 %

The stock’s 50-day moving average price is $48.93 and its 200-day moving average price is $36.26. The company has a market capitalization of $33.31 billion, a P/E ratio of 24.03, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last released 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 net margin of 47.81% and a return on equity of 13.53%. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 522,180 shares of the stock in a transaction dated 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 owns 5,042 shares of the company’s stock, valued at $316,133.40. This trade represents a 99.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $29,370,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,985,127 shares of company stock valued at $142,455,378 in the last quarter. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently bought and sold shares of the stock. New Wave Wealth Advisors LLC acquired a new position in Robinhood Markets during the 4th quarter valued at about $26,000. True Wealth Design LLC acquired a new position in Robinhood Markets during the 3rd quarter valued at about $30,000. CoreCap Advisors LLC increased its stake in Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after buying an additional 550 shares during the period. Creative Financial Designs Inc. ADV increased its stake in Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after buying an additional 750 shares during the period. Finally, Colonial Trust Co SC acquired a new position in Robinhood Markets during the 4th quarter valued at about $34,000. 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.