Robinhood Markets (NASDAQ:HOOD) Stock Price Up 2.5% - Still a Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) traded up 2.5% during trading on Tuesday . The stock traded as high as $42.00 and last traded at $42.65. 11,724,988 shares were traded during trading, a decline of 46% from the average session volume of 21,861,005 shares. The stock had previously closed at $41.62.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of research reports. Wolfe Research lowered shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. The Goldman Sachs Group upgraded Robinhood Markets from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Raymond James began coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating on the stock. Mizuho raised their target price on Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Finally, Piper Sandler boosted their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.24.

Robinhood Markets Stock Down 9.8 %

The company has a 50-day moving average of $48.49 and a 200 day moving average of $38.62. The stock has a market capitalization of $30.56 billion, a PE ratio of 21.98, a PEG ratio of 1.05 and a beta of 2.14.

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Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the transaction, the director now owns 5,042 shares in the company, valued at approximately $316,133.40. The trade was a 99.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,627,010 shares of company stock worth $131,897,049. Insiders own 19.95% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds have recently modified their holdings of HOOD. New Wave Wealth Advisors LLC acquired a new position in Robinhood Markets in the 4th quarter valued at about $26,000. CoreCap Advisors LLC raised its position in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares during the period. Creative Financial Designs Inc. ADV raised its position in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after buying an additional 750 shares during the period. Colonial Trust Co SC acquired a new position in Robinhood Markets in the fourth quarter valued at approximately $34,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after acquiring an additional 498 shares during the last quarter. Hedge funds and other 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.