Robinhood Markets (NASDAQ:HOOD) Trading 5% Higher – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOODGet Free Report)’s share price rose 5% on Wednesday . The company traded as high as $74.59 and last traded at $72.54. Approximately 27,340,429 shares traded hands during trading, a decline of 7% from the average daily volume of 29,555,369 shares. The stock had previously closed at $69.08.

Trending Headlines about Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a report on Wednesday, February 11th. KeyCorp reduced their price target on Robinhood Markets from $160.00 to $130.00 and set an “overweight” rating for the company in a research report on Monday, February 9th. Wall Street Zen downgraded Robinhood Markets from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Barclays lowered their price objective on Robinhood Markets from $159.00 to $124.00 and set an “overweight” rating on the stock in a report on Wednesday, February 11th. Finally, Mizuho cut their price objective on Robinhood Markets from $135.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, March 13th. Seventeen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.59.

Get Our Latest Stock Report on Robinhood Markets

Robinhood Markets Trading Up 5.0%

The stock has a market cap of $65.31 billion, a P/E ratio of 35.21, a P/E/G ratio of 1.64 and a beta of 2.47. The firm’s fifty day moving average is $85.01 and its 200 day moving average is $112.43.

Robinhood Markets (NASDAQ:HOODGet Free Report) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Robinhood Markets had a net margin of 42.10% and a return on equity of 22.32%. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 earnings per share. Research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Steven M. Quirk sold 52,540 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $87.81, for a total value of $4,613,537.40. Following the transaction, the insider directly owned 27,564 shares of the company’s stock, valued at $2,420,394.84. The trade was a 65.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 375,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $121.63, for a total value of $45,611,250.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 469,268 shares of company stock worth $54,409,454 over the last quarter. 19.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently modified their holdings of the stock. North Star Investment Management Corp. boosted its position in shares of Robinhood Markets by 44.9% during the third quarter. North Star Investment Management Corp. now owns 255 shares of the company’s stock worth $37,000 after buying an additional 79 shares during the period. First Command Advisory Services Inc. raised its position in Robinhood Markets by 33.8% in the 3rd quarter. First Command Advisory Services Inc. now owns 321 shares of the company’s stock valued at $46,000 after buying an additional 81 shares during the last quarter. CogentBlue Wealth Advisors LLC lifted its stake in Robinhood Markets by 3.8% in the 3rd quarter. CogentBlue Wealth Advisors LLC now owns 2,391 shares of the company’s stock valued at $342,000 after acquiring an additional 87 shares in the last quarter. Evolution Wealth Advisors LLC lifted its stake in Robinhood Markets by 5.2% in the 4th quarter. Evolution Wealth Advisors LLC now owns 1,916 shares of the company’s stock valued at $217,000 after acquiring an additional 95 shares in the last quarter. Finally, ORG Partners LLC boosted its position in Robinhood Markets by 5.5% during the 3rd quarter. ORG Partners LLC now owns 1,876 shares of the company’s stock worth $269,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

About Robinhood Markets

(Get Free Report)

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.

Further Reading

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