Robinhood Markets (NASDAQ:HOOD) Trading Up 2.6% – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price rose 2.6% on Thursday . The stock traded as high as $137.36 and last traded at $137.08. Approximately 20,213,947 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 39,567,828 shares. The stock had previously closed at $133.64.

Wall Street Analyst Weigh In

A number of research firms have commented on HOOD. Keefe, Bruyette & Woods increased their target price on Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a report on Thursday, November 6th. Piper Sandler restated an “overweight” rating on shares of Robinhood Markets in a research note on Wednesday, November 26th. The Goldman Sachs Group boosted their target price on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Citizens Jmp increased their target price on shares of Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, November 7th. Finally, Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $136.95.

Robinhood Markets Stock Up 2.6%

The company has a market capitalization of $123.26 billion, a P/E ratio of 56.88, a PEG ratio of 2.83 and a beta of 2.43. The business has a 50 day simple moving average of $132.80 and a 200-day simple moving average of $108.76.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 EPS. Equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of Robinhood Markets stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $121.33, for a total transaction of $6,066,500.00. Following the sale, the insider owned 480,949 shares of the company’s stock, valued at $58,353,542.17. The trade was a 9.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven M. Quirk sold 48,350 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $140.61, for a total value of $6,798,493.50. Following the transaction, the insider owned 70,279 shares of the company’s stock, valued at $9,881,930.19. This trade represents a 40.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,935,159 shares of company stock worth $503,220,491 over the last ninety days. 14.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. raised its position in shares of Robinhood Markets by 2.1% during the 1st quarter. Federated Hermes Inc. now owns 31,024 shares of the company’s stock worth $1,291,000 after buying an additional 638 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Robinhood Markets by 366.8% during the first quarter. PNC Financial Services Group Inc. now owns 31,389 shares of the company’s stock valued at $1,306,000 after acquiring an additional 24,664 shares during the period. J. Safra Sarasin Holding AG acquired a new position in shares of Robinhood Markets during the first quarter valued at approximately $216,000. Cary Street Partners Financial LLC bought a new stake in Robinhood Markets during the first quarter worth approximately $1,849,000. Finally, Atria Wealth Solutions Inc. lifted its position in Robinhood Markets by 11.6% in the first quarter. Atria Wealth Solutions Inc. now owns 43,720 shares of the company’s stock worth $1,820,000 after purchasing an additional 4,546 shares during the period. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

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.