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

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

Analysts Set New Price Targets

A number of brokerages recently commented on HOOD. JPMorgan Chase & Co. upped their target price on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. Barclays upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $26.00 to $49.00 in a research report on Monday, December 9th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and upped their target price for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft upped their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, KeyCorp upped their price objective on Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.20.

Robinhood Markets Trading Up 5.5 %

The company has a fifty day simple moving average of $33.58 and a 200-day simple moving average of $25.91. The company has a market capitalization of $34.99 billion, a PE ratio of 67.09, a PEG ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last issued 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 company had revenue of $637.00 million during 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%. The firm’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.09) earnings per share. On average, equities analysts predict that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $22.88, for a total value of $5,720,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $37.92, for a total value of $222,817.92. Following the sale, the chief technology officer now directly owns 11,752 shares in the company, valued at $445,635.84. This trade represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,043,565 shares of company stock valued at $177,315,305 in the last quarter. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HOOD. HM Payson & Co. increased its position in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 410 shares during the period. Eastern Bank purchased a new position in shares of Robinhood Markets in the 3rd quarter valued at approximately $30,000. True Wealth Design LLC purchased a new position in shares of Robinhood Markets in the 3rd quarter valued at approximately $30,000. ORG Wealth Partners LLC purchased a new position in shares of Robinhood Markets in the 3rd quarter valued at approximately $33,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Robinhood Markets in the 2nd quarter valued at approximately $40,000. Institutional investors and hedge funds 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.