Robinhood Markets (NASDAQ:HOOD) Trading Up 6.1% – Still a Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares rose 6.1% during trading on Wednesday . The stock traded as high as $134.34 and last traded at $133.64. Approximately 24,882,850 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 39,648,648 shares. The stock had previously closed at $125.95.

Analyst Ratings Changes

HOOD has been the topic of several research reports. The Goldman Sachs Group lifted their price objective on Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. CICC Research initiated coverage on Robinhood Markets in a research report on Monday, October 27th. They set an “outperform” rating and a $155.00 price target on the stock. Keefe, Bruyette & Woods increased their price objective on Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a report on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a report on Monday. Finally, Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a research note on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.95.

Robinhood Markets Stock Performance

The company’s fifty day moving average is $132.67 and its two-hundred day moving average is $108.58. The company has a market cap of $120.17 billion, a price-to-earnings ratio of 55.45, a P/E/G ratio of 2.77 and a beta of 2.43.

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, topping the consensus estimate of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company posted $0.17 earnings per share. The firm’s revenue was up 100.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the firm’s stock in a transaction dated 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 directly owned 480,949 shares of the company’s stock, valued at $58,353,542.17. This trade represents a 9.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $116.56, for a total value of $48,761,477.28. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,935,159 shares of company stock worth $503,220,491 over the last ninety days. 19.95% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. North Star Investment Management Corp. increased its stake in Robinhood Markets by 44.9% during the 3rd quarter. North Star Investment Management Corp. now owns 255 shares of the company’s stock worth $37,000 after buying an additional 79 shares in the last quarter. First Command Advisory Services Inc. boosted its stake in shares of Robinhood Markets by 33.8% in the third quarter. First Command Advisory Services Inc. now owns 321 shares of the company’s stock worth $46,000 after acquiring an additional 81 shares during the last quarter. CogentBlue Wealth Advisors LLC increased its position in shares of 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 purchasing an additional 87 shares in the last quarter. ORG Partners LLC raised its stake in 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 purchasing an additional 97 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in Robinhood Markets by 107.6% in the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after purchasing an additional 99 shares in the last quarter. Institutional investors and hedge funds 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.