Robinhood Markets (NASDAQ:HOOD) Shares Up 1.3% - Should You Buy?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) were up 1.3% during trading on Friday . The company traded as high as $41.75 and last traded at $41.18. Approximately 23,885,589 shares changed hands during trading, a decline of 1% from the average daily volume of 24,183,991 shares. The stock had previously closed at $40.66.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on Robinhood Markets from $39.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Raymond James began coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a "market perform" rating for the company. Deutsche Bank Aktiengesellschaft cut their price objective on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Wolfe Research lowered shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Finally, Cantor Fitzgerald assumed coverage on shares of Robinhood Markets in a research report on Thursday, March 6th. They issued an "overweight" rating and a $69.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.06.

Robinhood Markets Stock Performance

The firm has a market cap of $37.27 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.05 and a beta of 2.17. The stock's fifty day moving average is $44.89 and its two-hundred day moving average is $40.41.

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

Insider Activity

In related news, CEO Vladimir Tenev sold 500,000 shares of the company's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $50.77, for a total transaction of $25,385,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 90,866 shares of the firm's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $50.67, for a total value of $4,604,180.22. Following the sale, the director now owns 5,042 shares of the company's stock, valued at $255,478.14. The trade was a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,784,193 shares of company stock valued at $137,892,219 over the last three months. Insiders own 19.95% of the company's stock.

Institutional Trading of Robinhood Markets

Institutional investors have recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of Robinhood Markets by 184.8% during the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after acquiring an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC increased its position in Robinhood Markets by 1.1% in the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after purchasing an additional 273,860 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Robinhood Markets by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock worth $455,464,000 after purchasing an additional 555,299 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Robinhood Markets by 34.4% during the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after buying an additional 3,091,514 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Robinhood Markets by 0.5% in the 4th quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after buying an additional 52,700 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.