Robinhood Markets (NASDAQ:HOOD) Shares Up 0.2% – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price was up 0.2% during mid-day trading on Tuesday . The company traded as high as $45.56 and last traded at $44.21. Approximately 13,168,616 shares traded hands during trading, a decline of 45% from the average daily volume of 23,875,768 shares. The stock had previously closed at $44.14.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. KeyCorp lifted their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. 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. Raymond James initiated coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They issued a “market perform” rating for the company. Morgan Stanley lowered shares of Robinhood Markets from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a research note on Tuesday, April 8th. Finally, JMP Securities dropped their price target on Robinhood Markets from $77.00 to $70.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.06.

Robinhood Markets Stock Performance

The business’s 50-day moving average is $46.25 and its 200 day moving average is $39.76. The company has a market cap of $39.21 billion, a PE ratio of 28.20, a PEG ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 500,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $50.77, for a total value of $25,385,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s stock in a transaction dated 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 in the company, valued at $201,987.03. This represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,651,987 shares of company stock worth $132,806,233. 19.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position in shares of Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares during the period. Norges Bank purchased a new position in Robinhood Markets in the 4th quarter worth approximately $329,598,000. GQG Partners LLC purchased a new stake in Robinhood Markets during the 4th quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership purchased a new stake in shares of Robinhood Markets in the fourth quarter worth about $152,949,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Robinhood Markets by 335.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock valued at $193,202,000 after buying an additional 3,994,745 shares in the last quarter. 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.