Robinhood Markets (NASDAQ:HOOD) Stock Price Up 4.7% – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Citigroup lifted their price objective 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. KeyCorp lifted their price target on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC upped their price target on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $61.29.

Robinhood Markets Trading Down 4.4 %

The firm has a 50 day moving average price of $48.96 and a 200 day moving average price of $36.99. The stock has a market capitalization of $36.97 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

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

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the sale, the chief technology officer now directly owns 17,559 shares in the company, valued at approximately $821,936.79. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,979,251 shares of company stock worth $142,232,560 in the last three months. Insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. Toronto Dominion Bank grew its stake in shares of Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after buying an additional 16,219 shares during the last quarter. IFP Advisors Inc boosted its holdings in Robinhood Markets by 601.1% during the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock valued at $164,000 after acquiring an additional 3,769 shares during the period. Everence Capital Management Inc. bought a new position in Robinhood Markets in the 4th quarter valued at $634,000. Charles Schwab Investment Management Inc. increased its stake in Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after purchasing an additional 138,267 shares during the period. Finally, Atomi Financial Group Inc. boosted its stake in shares of Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after purchasing an additional 92,613 shares during the period. 93.27% of the stock is 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.