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

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HOOD. Keefe, Bruyette & Woods increased their price target on Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Wolfe Research downgraded Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Raymond James started coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Sanford C. Bernstein raised their price objective on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and an average price target of $61.31.

Robinhood Markets Stock Up 8.9 %

The business has a 50 day simple moving average of $48.88 and a 200 day simple moving average of $36.49. The company has a market capitalization of $34.75 billion, a PE ratio of 24.99, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data 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 return on equity of 13.53% and a net margin of 47.81%. Equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 228,645 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $40.37, for a total value of $9,230,398.65. Following the completion of the transaction, the director now owns 5,042 shares of the company’s stock, valued at approximately $203,545.54. The trade was a 97.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,985,127 shares of company stock worth $142,455,378 over the last three months. 19.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Kilter Group LLC purchased a new position in Robinhood Markets during the fourth quarter valued at approximately $240,000. Siemens Fonds Invest GmbH purchased a new position in Robinhood Markets during the fourth quarter valued at approximately $217,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Robinhood Markets during the fourth quarter valued at approximately $4,886,000. Employees Retirement System of Texas purchased a new position in Robinhood Markets during the fourth quarter valued at approximately $1,609,000. Finally, Windmill Hill Asset Management Ltd purchased a new position in Robinhood Markets during the fourth quarter valued at approximately $493,000. 93.27% of the stock is currently 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.