Robinhood Markets (NASDAQ:HOOD) Trading 0.3% Higher – Still a Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price traded up 0.3% during trading on Thursday . The stock traded as high as $41.57 and last traded at $40.78. 7,537,979 shares were traded during mid-day trading, a decline of 69% from the average session volume of 24,068,591 shares. The stock had previously closed at $40.66.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HOOD. Cantor Fitzgerald started coverage on Robinhood Markets in a report on Thursday, March 6th. They set an “overweight” rating and a $69.00 price target for the company. Mizuho boosted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Needham & Company LLC lowered their price target on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. Finally, Raymond James began coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating on the stock. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.06.

Robinhood Markets Stock Up 1.7 %

The stock has a market cap of $36.60 billion, a price-to-earnings ratio of 26.29, a P/E/G ratio of 1.05 and a beta of 2.17. The company has a 50 day simple moving average of $45.76 and a 200 day simple moving average of $39.79.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 500,000 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $50.77, for a total value of $25,385,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 90,866 shares of Robinhood Markets stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $50.67, for a total value of $4,604,180.22. Following the sale, the director now directly owns 5,042 shares in the company, valued at $255,478.14. The trade was a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,561,121 shares of company stock worth $128,692,730. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently modified their holdings of the business. Whipplewood Advisors LLC raised its position in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after purchasing an additional 508 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets during the fourth quarter worth about $26,000. CoreCap Advisors LLC lifted its stake in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after acquiring an additional 550 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after acquiring an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC bought a new stake in Robinhood Markets in the fourth quarter valued at approximately $34,000. 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.