Robinhood Markets (NASDAQ:HOOD) Stock Price Up 2% – Still a Buy?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) were up 2% during trading on Monday . The company traded as high as $119.62 and last traded at $117.52. Approximately 17,004,585 shares changed hands during trading, a decline of 19% from the average daily volume of 20,923,486 shares. The stock had previously closed at $115.27.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald decreased their price target on shares of Robinhood Markets from $155.00 to $152.00 and set an “overweight” rating on the stock in a report on Thursday, December 11th. KeyCorp increased their target price on shares of Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Morgan Stanley lifted their price target on Robinhood Markets from $146.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Monday, December 22nd. Citizens Jmp upped their price objective on shares of Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, November 7th. Finally, Keefe, Bruyette & Woods raised their price target on Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $136.62.

Robinhood Markets Stock Performance

The business’s 50-day moving average price is $122.72 and its 200-day moving average price is $118.76. The stock has a market cap of $105.67 billion, a P/E ratio of 48.76, a P/E/G ratio of 1.75 and a beta of 2.44.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.41 by $0.20. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The company’s revenue was up 100.0% on a year-over-year basis. During the same period last year, the firm earned $0.17 EPS. As a group, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $121.58, for a total transaction of $1,215,800.00. Following the transaction, the insider directly owned 403,612 shares in the company, valued at $49,071,146.96. This represents a 2.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $116.56, for a total value of $48,761,477.28. The disclosure for this sale is available in the SEC filing. Insiders sold 3,296,763 shares of company stock valued at $414,016,996 over the last 90 days. 19.95% of the stock is currently owned by insiders.

Institutional Trading of Robinhood Markets

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Robinhood Markets by 24.9% during the third quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock worth $13,521,497,000 after purchasing an additional 18,824,923 shares during the period. State Street Corp raised its stake in shares of Robinhood Markets by 103.2% in the third quarter. State Street Corp now owns 32,246,155 shares of the company’s stock valued at $4,617,004,000 after acquiring an additional 16,375,734 shares in the last quarter. WCM Investment Management LLC boosted its stake in shares of Robinhood Markets by 3,615.7% in the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after buying an additional 11,244,182 shares during the period. Norges Bank purchased a new position in Robinhood Markets in the second quarter worth approximately $973,122,000. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Robinhood Markets during the second quarter worth $951,479,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.