Robinhood Markets (NASDAQ:HOOD) Shares Up 7% – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price was up 7% during trading on Monday . The stock traded as high as $123.42 and last traded at $123.24. Approximately 26,058,962 shares traded hands during trading, an increase of 1% from the average daily volume of 25,908,484 shares. The stock had previously closed at $115.21.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Dbs Bank upgraded Robinhood Markets to a “moderate buy” rating in a research report on Wednesday, November 12th. Needham & Company LLC decreased their target price on shares of Robinhood Markets from $145.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, December 29th. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research note on Monday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Robinhood Markets in a report on Monday, December 22nd. Finally, Citizens Jmp increased their price target on shares of Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a research report on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $136.80.

Robinhood Markets Stock Up 7.0%

The stock has a market capitalization of $110.82 billion, a PE ratio of 51.14, a price-to-earnings-growth ratio of 1.74 and a beta of 2.44. The business’s fifty day moving average is $125.90 and its two-hundred day moving average is $117.16.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the company posted $0.17 earnings per share. The firm’s revenue was up 100.0% on a year-over-year basis. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Quirk sold 49,942 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $131.15, for a total value of $6,549,893.30. Following the sale, the insider owned 54,496 shares of the company’s stock, valued at approximately $7,147,150.40. The trade was a 47.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 2,905,899 shares of company stock worth $366,476,943. 19.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently made changes to their positions in HOOD. Venture Visionary Partners LLC raised its position in Robinhood Markets by 63.0% during the second quarter. Venture Visionary Partners LLC now owns 125,420 shares of the company’s stock valued at $11,743,000 after acquiring an additional 48,494 shares in the last quarter. Coordinated Financial Services Inc. purchased a new stake in shares of Robinhood Markets in the second quarter valued at about $403,000. Swedbank AB raised its position in Robinhood Markets by 15.7% in the first quarter. Swedbank AB now owns 298,931 shares of the company’s stock valued at $12,442,000 after purchasing an additional 40,496 shares during the period. Intech Investment Management LLC boosted its stake in shares of Robinhood Markets by 187.3% in the first quarter. Intech Investment Management LLC now owns 313,769 shares of the company’s stock valued at $13,059,000 after purchasing an additional 204,551 shares during the period. Finally, Wedmont Private Capital increased its holdings in Robinhood Markets by 102.9% during the 2nd quarter. Wedmont Private Capital now owns 25,206 shares of the company’s stock worth $2,383,000 after purchasing an additional 12,782 shares during the period. Institutional investors and hedge funds 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.