Robinhood Markets (NASDAQ:HOOD) Stock Price Up 2.6% – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price shot up 2.6% during trading on Monday . The company traded as high as $75.81 and last traded at $75.31. 22,661,696 shares were traded during mid-day trading, a decline of 25% from the average session volume of 30,073,422 shares. The stock had previously closed at $73.39.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HOOD. KeyCorp dropped their price objective on shares of Robinhood Markets from $160.00 to $130.00 and set an “overweight” rating for the company in a research note on Monday, February 9th. Wall Street Zen cut shares of Robinhood Markets from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Needham & Company LLC reduced their price objective on shares of Robinhood Markets from $135.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Loop Capital set a $130.00 price objective on shares of Robinhood Markets in a research note on Monday, February 9th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $180.00 target price on shares of Robinhood Markets in a research note on Wednesday, February 11th. Seventeen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $120.59.

Robinhood Markets Price Performance

The stock has a market capitalization of $67.80 billion, a P/E ratio of 36.56, a PEG ratio of 1.66 and a beta of 2.47. The stock’s fifty day moving average price is $91.33 and its 200 day moving average price is $113.87.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was up 26.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 EPS. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 375,000 shares of the 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. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Steven M. Quirk sold 52,540 shares of the firm’s stock in a transaction 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 owned 27,564 shares in the company, valued at $2,420,394.84. The trade was a 65.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 475,132 shares of company stock worth $55,127,149 over the last three months. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC lifted its stake in Robinhood Markets by 46.7% in the first quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock worth $2,076,000 after acquiring an additional 15,885 shares during the period. Los Angeles Capital Management LLC purchased a new position in Robinhood Markets during the 2nd quarter valued at about $338,000. PNC Financial Services Group Inc. raised its holdings in shares of Robinhood Markets by 32.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 41,475 shares of the company’s stock valued at $3,883,000 after purchasing an additional 10,086 shares in the last quarter. Candriam S.C.A. raised its holdings in shares of Robinhood Markets by 12.6% in the 2nd quarter. Candriam S.C.A. now owns 51,052 shares of the company’s stock valued at $4,780,000 after purchasing an additional 5,710 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Robinhood Markets by 48.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,270,735 shares of the company’s stock worth $306,239,000 after purchasing an additional 1,073,914 shares during the period. 93.27% of the stock is currently owned by institutional investors.

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.