Robinhood Markets (NASDAQ:HOOD) Stock Price Up 7.5% – Should You Buy?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) rose 7.5% during trading on Thursday . The stock traded as high as $52.81 and last traded at $52.50. Approximately 21,939,768 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 27,162,523 shares. The stock had previously closed at $48.85.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of recent research reports. Wolfe Research downgraded Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods boosted their price target on Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Morgan Stanley increased their price objective on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Barclays lifted their price objective on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $59.53.

Robinhood Markets Price Performance

The company’s 50-day moving average is $48.34 and its 200-day moving average is $34.88. The firm has a market capitalization of $44.29 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 1.05 and a beta of 2.13.

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 net margin of 47.81% and a return on equity of 13.53%. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 123,272 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the completion of the sale, the insider now directly owns 298,826 shares of the company’s stock, valued at $16,674,490.80. The trade was a 29.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, 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 Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $26,000. CoreCap Advisors LLC boosted its holdings in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after acquiring an additional 550 shares during the period. Creative Financial Designs Inc. ADV grew its position 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 acquiring an additional 750 shares in the last quarter. Colonial Trust Co SC purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $34,000. Finally, Silicon Valley Capital Partners purchased a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $37,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

About Robinhood Markets

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.