Robinhood Markets (NASDAQ:HOOD) Stock Price Up 2.2% – Still a Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price rose 2.2% on Tuesday . The stock traded as high as $129.18 and last traded at $125.95. Approximately 25,157,519 shares traded hands during trading, a decline of 37% from the average daily volume of 39,713,469 shares. The stock had previously closed at $123.24.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. CICC Research initiated coverage on Robinhood Markets in a research report on Monday, October 27th. They set an “outperform” rating and a $155.00 target price for the company. Zacks Research raised shares of Robinhood Markets from a “hold” rating to a “strong-buy” rating in a report on Friday. Loop Capital set a $161.00 price objective on shares of Robinhood Markets in a report on Monday, October 27th. Compass Point reissued a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Robinhood Markets in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and an average price target of $136.95.

Robinhood Markets Stock Up 2.2%

The business has a 50-day moving average price of $132.67 and a two-hundred day moving average price of $108.13. The company has a market cap of $113.25 billion, a P/E ratio of 52.26, a P/E/G ratio of 2.89 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the business posted $0.17 EPS. The company’s quarterly revenue was up 100.0% compared to the same quarter last year. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 1,330,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $128.47, for a total transaction of $170,865,100.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,020,272 shares of company stock valued at $511,809,493 over the last 90 days. Company insiders own 14.47% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently modified their holdings of HOOD. Vanguard Group Inc. lifted its stake in Robinhood Markets by 24.9% in the third quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock valued at $13,521,497,000 after acquiring an additional 18,824,923 shares during the last quarter. State Street Corp raised its stake in Robinhood Markets by 103.2% in the third quarter. State Street Corp now owns 32,246,155 shares of the company’s stock valued at $4,617,004,000 after buying an additional 16,375,734 shares during the period. WCM Investment Management LLC lifted its stake in shares of Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after buying an additional 11,244,182 shares during the last quarter. Norges Bank acquired a new position in shares of Robinhood Markets in the second quarter valued at approximately $973,122,000. Finally, Kingstone Capital Partners Texas LLC bought a new stake in Robinhood Markets in the 2nd quarter valued at $951,479,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.