Robinhood Markets (NASDAQ:HOOD) Trading 2.9% Higher - Still a Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares shot up 2.9% on Tuesday . The company traded as high as $37.85 and last traded at $36.42. 22,840,612 shares changed hands during trading, a decline of 0% from the average session volume of 22,875,146 shares. The stock had previously closed at $35.41.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They issued an "overweight" rating and a $69.00 target price for the company. JMP Securities lowered their target price on Robinhood Markets from $77.00 to $70.00 and set a "market outperform" rating for the company in a research note on Tuesday. Raymond James assumed coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating for the company. Mizuho lifted their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Finally, Wolfe Research downgraded Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $55.06.

Robinhood Markets Stock Performance

The company has a market cap of $38.68 billion, a P/E ratio of 27.82, a P/E/G ratio of 1.05 and a beta of 2.17. The stock has a 50-day simple moving average of $46.45 and a 200 day simple moving average of $39.50.

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Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping 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 anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 500,000 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $50.77, for a total transaction of $25,385,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $47.82, for a total value of $280,990.32. The disclosure for this sale can be found here. Insiders have sold 2,651,987 shares of company stock worth $132,806,233 over the last ninety days. Company insiders own 19.95% of the company's stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently bought and sold shares of the business. Whipplewood Advisors LLC boosted its stake in shares of Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new position in Robinhood Markets in the fourth quarter valued at approximately $26,000. CoreCap Advisors LLC boosted its holdings in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after buying an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its holdings 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 worth $32,000 after buying an additional 750 shares in the last quarter. Finally, Colonial Trust Co SC acquired a new stake in shares of Robinhood Markets during the 4th quarter worth approximately $34,000. Institutional investors 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.