Robinhood Markets (NASDAQ:HOOD) Trading Up 2.1% – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares traded up 2.1% during trading on Tuesday . The company traded as high as $53.14 and last traded at $52.98. 5,242,045 shares were traded during trading, a decline of 74% from the average session volume of 20,256,086 shares. The stock had previously closed at $51.90.

Analysts Set New Price Targets

HOOD has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price target (up from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Barclays lifted their price objective on shares of Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Sanford C. Bernstein upped their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Piper Sandler lifted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Finally, Citigroup lifted their price target on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus target price of $43.73.

Robinhood Markets Stock Performance

The stock’s fifty day simple moving average is $42.16 and its 200-day simple moving average is $30.38. The stock has a market cap of $46.56 billion, a P/E ratio of 89.28, a P/E/G ratio of 0.70 and a beta of 2.13.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 19,861 shares of the stock in a transaction on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the transaction, the insider now directly owns 395,166 shares in the company, valued at approximately $14,834,531.64. This represents a 4.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders have sold a total of 3,938,436 shares of company stock worth $161,862,969 in the last 90 days. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. lifted its holdings in Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after purchasing an additional 277 shares in the last quarter. HM Payson & Co. raised its stake in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares in the last quarter. Commerce Bank lifted its holdings in shares of Robinhood Markets by 3.3% during the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after acquiring an additional 423 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Robinhood Markets by 16.5% in the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after purchasing an additional 487 shares in the last quarter. Finally, Spire Wealth Management grew its position in Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after acquiring an additional 549 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.