Robinhood Markets (NASDAQ:HOOD) Trading 2.9% Higher – Should You Buy?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) rose 2.9% during trading on Wednesday . The company traded as high as $55.50 and last traded at $54.86. Approximately 9,766,608 shares traded hands during trading, a decline of 52% from the average daily volume of 20,450,141 shares. The stock had previously closed at $53.34.

Analysts Set New Price Targets

HOOD has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Sanford C. Bernstein boosted their price target on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Citigroup boosted their price objective on Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $20.00 to $43.00 in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.67.

Robinhood Markets Trading Up 4.4 %

The firm has a market capitalization of $49.23 billion, a P/E ratio of 94.26, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. The firm has a 50 day moving average price of $44.16 and a 200-day moving average price of $31.73.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 186,514 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total value of $7,111,778.82. Following the completion of the transaction, the director now directly owns 2,521 shares in the company, valued at approximately $96,125.73. This trade represents a 98.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,948,427 shares of company stock valued at $165,005,244. Insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds have recently made changes to their positions in HOOD. Dorsey & Whitney Trust CO LLC raised its stake in Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after buying an additional 233 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of 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 acquiring an additional 277 shares in the last quarter. HM Payson & Co. lifted 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 valued at $28,000 after acquiring an additional 410 shares during the last quarter. Commerce Bank boosted its stake in Robinhood Markets by 3.3% in the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after acquiring an additional 423 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Robinhood Markets by 16.5% during the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after buying an additional 487 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other 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.