Robinhood Markets (NASDAQ:HOOD) Trading Up 8.6% – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price shot up 8.6% during mid-day trading on Friday . The stock traded as high as $38.55 and last traded at $39.13. 15,389,894 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 33,051,563 shares. The stock had previously closed at $36.02.

Analysts Set New Price Targets

Several brokerages have issued reports on HOOD. Piper Sandler boosted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Barclays boosted their price target on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Cantor Fitzgerald assumed coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price target on the stock. Sanford C. Bernstein boosted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, Keefe, Bruyette & Woods boosted 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. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and a consensus target price of $61.31.

Robinhood Markets Stock Performance

The company’s 50-day moving average is $48.93 and its 200-day moving average is $36.26. The firm has a market cap of $34.78 billion, a price-to-earnings ratio of 24.97, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was 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 directly owns 17,559 shares of the company’s stock, valued at $821,936.79. This represents a 25.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Baiju Bhatt sold 522,180 shares of the company’s 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 completion of the sale, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,985,127 shares of company stock worth $142,455,378. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of institutional investors and hedge funds have recently modified their holdings of HOOD. New Wave Wealth Advisors LLC bought a new stake in Robinhood Markets during the 4th quarter worth approximately $26,000. 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 worth $31,000 after purchasing an additional 550 shares in the last quarter. 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 worth $32,000 after purchasing an additional 750 shares in the last quarter. Colonial Trust Co SC bought a new stake in Robinhood Markets during the 4th quarter worth approximately $34,000. Finally, Silicon Valley Capital Partners bought a new position in shares of Robinhood Markets during the 4th quarter worth approximately $37,000. 93.27% of the stock is owned by 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.