Robinhood Markets (NASDAQ:HOOD) Trading 6.6% Higher - Should You Buy?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) traded up 6.6% on Friday . The stock traded as high as $49.27 and last traded at $49.14. 20,504,745 shares were traded during trading, an increase of 1% from the average session volume of 20,298,822 shares. The stock had previously closed at $46.08.

Analyst Upgrades and Downgrades

HOOD has been the topic of several recent research reports. JMP Securities raised their price target on Robinhood Markets from $33.00 to $40.00 and gave the stock a "market outperform" rating in a research report on Tuesday, November 12th. Barclays lifted their target price on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an "overweight" rating in a research note on Monday. KeyCorp increased their price target on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Finally, Piper Sandler increased their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an "overweight" rating in a report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and a consensus target price of $42.47.

Robinhood Markets Trading Up 4.5 %

The stock's fifty day moving average price is $38.28 and its 200 day moving average price is $28.00. The stock has a market cap of $42.56 billion, a P/E ratio of 81.72, a PEG ratio of 0.58 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $637.00 million for the quarter, compared to analysts' expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets's revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) earnings per share. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 0.91 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $42.64, for a total transaction of $250,552.64. Following the sale, the chief technology officer now owns 5,876 shares in the company, valued at $250,552.64. This represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $40.45, for a total transaction of $4,045,000.00. Following the completion of the transaction, the insider now owns 731,642 shares of the company's stock, valued at approximately $29,594,918.90. The trade was a 12.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,609,792 shares of company stock valued at $136,247,178. Insiders own 19.95% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC raised its stake in Robinhood Markets by 88.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 24,825 shares of the company's stock valued at $925,000 after buying an additional 11,650 shares during the last quarter. SG Americas Securities LLC raised its holdings in Robinhood Markets by 67.2% in the 4th quarter. SG Americas Securities LLC now owns 60,118 shares of the company's stock worth $2,240,000 after purchasing an additional 24,161 shares during the period. Evolution Wealth Advisors LLC purchased a new position in Robinhood Markets during the fourth quarter valued at approximately $242,000. Atomi Financial Group Inc. lifted its stake in shares of Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company's stock valued at $20,154,000 after buying an additional 92,613 shares in the last quarter. Finally, Perpetual Ltd bought a new position in Robinhood Markets in the 4th quarter worth $1,139,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.

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