Robinhood Markets (NASDAQ:HOOD) Shares Up 2.2% - Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) was up 2.2% during trading on Friday . The company traded as high as $49.73 and last traded at $49.19. Approximately 13,910,879 shares were traded during trading, a decline of 44% from the average daily volume of 24,719,738 shares. The stock had previously closed at $48.15.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HOOD. KeyCorp lowered their price objective on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a report on Wednesday. Compass Point assumed coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective on the stock. Citigroup dropped their target price on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Needham & Company LLC decreased their price target on Robinhood Markets from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Finally, Cantor Fitzgerald began coverage on Robinhood Markets in a research note on Thursday, March 6th. They set 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 issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.88.

Robinhood Markets Stock Performance

The stock has a market capitalization of $43.79 billion, a P/E ratio of 31.50, a PEG ratio of 1.05 and a beta of 2.17. The business has a 50-day moving average price of $43.49 and a 200 day moving average price of $41.00.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating the consensus estimate 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, research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $38.31, for a total value of $957,750.00. Following the transaction, the insider now owns 822,825 shares in the company, valued at $31,522,425.75. This represents a 2.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $47.82, for a total transaction of $280,990.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,240,460 shares of company stock worth $110,036,750. Insiders own 19.95% of the company's stock.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new stake in Robinhood Markets in the 3rd quarter worth $351,000. Franklin Resources Inc. purchased a new position in Robinhood Markets during the 3rd quarter valued at approximately $6,321,000. Garden State Investment Advisory Services LLC purchased a new stake in shares of Robinhood Markets during the 3rd quarter worth approximately $263,000. Versant Capital Management Inc grew its holdings in shares of Robinhood Markets by 6,799.1% in the fourth quarter. Versant Capital Management Inc now owns 22,974 shares of the company's stock valued at $856,000 after purchasing an additional 22,641 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Robinhood Markets by 49.3% during the fourth quarter. GAMMA Investing LLC now owns 5,858 shares of the company's stock valued at $218,000 after purchasing an additional 1,935 shares in 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.