Robinhood Markets (NASDAQ:HOOD) Shares Up 1.4% – Time to Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price shot up 1.4% during trading on Thursday . The stock traded as high as $45.41 and last traded at $45.35. 22,877,631 shares changed hands during trading, an increase of 7% from the average session volume of 21,463,227 shares. The stock had previously closed at $44.73.

Analysts Set New Price Targets

A number of analysts recently weighed in on HOOD shares. Morgan Stanley upped their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. JMP Securities lifted their price objective on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. KeyCorp boosted their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. increased their target price on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

Robinhood Markets Price Performance

The firm has a market cap of $39.42 billion, a PE ratio of 28.45, a PEG ratio of 1.05 and a beta of 2.14. The stock’s fifty day simple moving average is $49.33 and its 200-day simple moving average is $37.87.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Analysts expect 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, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of Robinhood Markets stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $40.45, for a total value of $4,045,000.00. Following the completion of the transaction, the insider now directly owns 731,642 shares of the company’s stock, valued at $29,594,918.90. The trade was a 12.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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. In the last 90 days, insiders have sold 2,955,655 shares of company stock worth $143,072,448. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after acquiring an additional 26,107,934 shares in the last quarter. Norges Bank acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $329,598,000. GQG Partners LLC purchased a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership purchased a new stake in shares of Robinhood Markets during the 4th quarter worth $152,949,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock valued at $193,202,000 after buying an additional 3,994,745 shares during the last quarter. 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.