Robinhood Markets (NASDAQ:HOOD) Shares Up 2.5% - Time to Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shot up 2.5% during trading on Wednesday . The stock traded as high as $35.79 and last traded at $35.03. 19,160,708 shares were traded during trading, a decline of 17% from the average session volume of 23,072,946 shares. The stock had previously closed at $34.17.

Analysts Set New Price Targets

A number of research firms recently issued reports on HOOD. Wolfe Research downgraded shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Barclays dropped their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Raymond James started coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating for the company. Citigroup lowered their target price on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $55.06.

Robinhood Markets Price Performance

The stock has a market cap of $38.68 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The stock's 50-day moving average is $46.45 and its two-hundred day moving average is $39.50.

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Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released 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%. On average, analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $34.51, for a total transaction of $201,987.03. Following the transaction, the chief technology officer now owns 5,853 shares of the company's stock, valued at $201,987.03. This trade represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,651,987 shares of company stock valued at $132,806,233 in the last quarter. 19.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently modified their holdings of HOOD. Whipplewood Advisors LLC lifted its position in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after buying an additional 508 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the 4th quarter worth about $26,000. CoreCap Advisors LLC boosted its stake 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 purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV grew its holdings in 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 purchasing an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC bought a new stake in Robinhood Markets in the fourth quarter worth about $34,000. 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.