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

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price shot up 2.5% during mid-day trading on Tuesday . The stock traded as high as $42.00 and last traded at $42.65. 11,724,988 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 21,861,005 shares. The stock had previously closed at $41.62.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HOOD. Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. increased their price target on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Barclays boosted their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Finally, KeyCorp increased their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $60.82.

Robinhood Markets Trading Up 1.7 %

The firm’s 50 day moving average price is $49.03 and its 200-day moving average price is $38.46. The company has a market cap of $37.49 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results 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 return on equity of 13.53% and a net margin of 47.81%. Analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 228,645 shares of Robinhood Markets stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the sale, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $203,545.54. This trade represents a 97.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $43.36, for a total transaction of $253,786.08. Following the completion of the sale, the chief technology officer now directly owns 11,706 shares in the company, valued at approximately $507,572.16. This represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,955,655 shares of company stock valued at $143,072,448 over the last 90 days. 19.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB boosted its holdings in Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock worth $36,000 after acquiring an additional 498 shares during the last quarter. Wellington Management Group LLP bought a new stake in Robinhood Markets during the 4th quarter valued at $588,000. Kilter Group LLC bought a new position in Robinhood Markets in the 4th quarter worth about $240,000. Siemens Fonds Invest GmbH bought a new stake in Robinhood Markets during the 4th quarter worth approximately $217,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Robinhood Markets during the fourth quarter valued at $4,886,000. Institutional investors own 93.27% of the company’s stock.

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.