Robinhood Markets (NASDAQ:HOOD) Trading Up 2% – Still a Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD) shot up 2% during trading on Monday . The company traded as high as $119.62 and last traded at $117.52. 17,004,585 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 20,923,486 shares. The stock had previously closed at $115.27.

Analyst Upgrades and Downgrades

HOOD has been the subject of several recent research reports. JMP Securities increased their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. CICC Research started coverage on shares of Robinhood Markets in a report on Monday, October 27th. They issued an “outperform” rating and a $155.00 price target for the company. Citigroup lifted their price objective on Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Zacks Research downgraded shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Morgan Stanley increased their price objective on Robinhood Markets from $146.00 to $147.00 and gave the company an “equal weight” rating in a research note on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $136.62.

Robinhood Markets Stock Up 2.0%

The firm has a 50 day moving average price of $122.72 and a two-hundred day moving average price of $118.76. The company has a market capitalization of $105.67 billion, a price-to-earnings ratio of 48.76, a P/E/G ratio of 1.75 and a beta of 2.44.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The company’s revenue for the quarter was up 100.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 EPS. Analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 1,330,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $128.47, for a total transaction of $170,865,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 49,942 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $131.15, for a total value of $6,549,893.30. Following the completion of the transaction, the insider owned 54,496 shares of the company’s stock, valued at $7,147,150.40. This trade represents a 47.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 3,296,763 shares of company stock worth $414,016,996. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of the stock. North Star Investment Management Corp. increased its holdings in shares of Robinhood Markets by 44.9% in the third quarter. North Star Investment Management Corp. now owns 255 shares of the company’s stock valued at $37,000 after purchasing an additional 79 shares in the last quarter. First Command Advisory Services Inc. lifted its stake in shares of Robinhood Markets by 33.8% in the 3rd quarter. First Command Advisory Services Inc. now owns 321 shares of the company’s stock valued at $46,000 after purchasing an additional 81 shares during the period. CogentBlue Wealth Advisors LLC boosted its holdings in Robinhood Markets by 3.8% during the third quarter. CogentBlue Wealth Advisors LLC now owns 2,391 shares of the company’s stock worth $342,000 after buying an additional 87 shares during the last quarter. Evolution Wealth Advisors LLC grew its holdings in Robinhood Markets by 5.2% during the fourth quarter. Evolution Wealth Advisors LLC now owns 1,916 shares of the company’s stock valued at $217,000 after purchasing an additional 95 shares during the period. Finally, ORG Partners LLC increased its position in shares of Robinhood Markets by 5.5% in the 3rd quarter. ORG Partners LLC now owns 1,876 shares of the company’s stock valued at $269,000 after buying an additional 97 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.