Robinhood Markets (NASDAQ:HOOD) Trading 1.9% Higher – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price was up 1.9% on Thursday . The stock traded as high as $38.68 and last traded at $37.80. Approximately 7,552,197 shares changed hands during trading, a decline of 56% from the average daily volume of 16,974,037 shares. The stock had previously closed at $37.08.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Citigroup increased their target price on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Needham & Company LLC reissued a “buy” rating and set a $52.00 price target (up from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. JMP Securities upped their price target on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average target price of $39.20.

Robinhood Markets Price Performance

The firm has a market cap of $33.88 billion, a P/E ratio of 64.97, a PEG ratio of 0.76 and a beta of 2.09. The firm’s 50-day moving average price is $33.11 and its 200 day moving average price is $25.62.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same period in the prior year, the business earned ($0.09) EPS. The company’s quarterly revenue was up 36.4% on a year-over-year basis. Analysts forecast that Robinhood Markets, Inc. will post 0.8 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Meyer Malka sold 1,535,681 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the completion of the transaction, the director now owns 4,974,238 shares in the company, valued at $199,516,686.18. The trade was a 23.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total value of $279,625.00. Following the completion of the sale, the insider now directly owns 1,057,500 shares in the company, valued at $23,656,275. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,037,689 shares of company stock valued at $177,092,487 over the last 90 days. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors have recently modified their holdings of the company. HM Payson & Co. boosted its stake in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the period. True Wealth Design LLC bought a new stake in shares of Robinhood Markets during the third quarter valued at approximately $30,000. Eastern Bank acquired a new position in shares of Robinhood Markets during the third quarter worth approximately $30,000. ORG Wealth Partners LLC bought a new position in Robinhood Markets in the 3rd quarter worth approximately $33,000. Finally, International Assets Investment Management LLC acquired a new stake in Robinhood Markets in the 2nd quarter valued at approximately $40,000. 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.