Robinhood Markets (NASDAQ:HOOD) Trading Up 5.5% – Time to Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares were up 5.5% during mid-day trading on Wednesday . The stock traded as high as $39.59 and last traded at $39.58. Approximately 10,144,491 shares were traded during trading, a decline of 41% from the average daily volume of 17,069,357 shares. The stock had previously closed at $37.50.

Analysts Set New Price Targets

Several equities analysts have issued reports on HOOD shares. Morgan Stanley raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $24.00 to $55.00 in a research report on Monday, November 25th. Citigroup upped their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Sanford C. Bernstein upped their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. JMP Securities upped their price target on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. Finally, KeyCorp upped 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.20.

Robinhood Markets Stock Up 5.5 %

The firm’s 50 day simple moving average is $33.58 and its 200 day simple moving average is $25.91. The company has a market capitalization of $34.99 billion, a PE ratio of 67.09, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter last year, the business posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, Director Meyer Malka sold 3,225,806 shares of Robinhood Markets stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total value of $80,870,956.42. Following the completion of the sale, the director now directly owns 29,357,336 shares in the company, valued at $735,988,413.52. The trade was a 9.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $37.92, for a total transaction of $222,817.92. Following the completion of the transaction, the chief technology officer now owns 11,752 shares of the company’s stock, valued at $445,635.84. This represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,043,565 shares of company stock worth $177,315,305 over the last three months. 19.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares in the last quarter. State Street Corp grew its stake in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after acquiring an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after acquiring an additional 1,895,427 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after acquiring an additional 2,094,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Robinhood Markets by 33.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock worth $107,298,000 after acquiring an additional 1,137,677 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

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.