Robinhood Markets (NASDAQ:HOOD) Stock Price Up 8.1% – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares were up 8.1% on Wednesday . The company traded as high as $83.85 and last traded at $82.21. Approximately 38,012,002 shares traded hands during trading, an increase of 24% from the average daily volume of 30,602,271 shares. The stock had previously closed at $76.07.

Analyst Ratings Changes

A number of research firms recently issued reports on HOOD. Piper Sandler reduced their target price on Robinhood Markets from $155.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 11th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Robinhood Markets in a research note on Wednesday, February 11th. Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a report on Wednesday, February 11th. Wolfe Research raised shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective for the company in a research report on Monday, February 9th. Finally, Bank of America lowered their target price on shares of Robinhood Markets from $166.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.71.

Robinhood Markets Stock Up 8.1%

The firm has a market cap of $74.01 billion, a price-to-earnings ratio of 39.91, a PEG ratio of 1.59 and a beta of 2.47. The company has a 50 day moving average of $97.47 and a 200 day moving average of $115.54.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. Robinhood Markets had a return on equity of 22.32% and a net margin of 42.10%.The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company earned $1.01 earnings per share. Robinhood Markets’s quarterly revenue was up 26.5% on a year-over-year basis. As a group, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $132.26, for a total transaction of $775,704.90. Following the sale, the chief technology officer directly owned 26,725 shares in the company, valued at approximately $3,534,648.50. This represents a 18.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 52,540 shares of the company’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 of the company’s stock, valued at approximately $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. Over the last three months, insiders sold 470,997 shares of company stock worth $55,147,954. Insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Robinhood Markets by 24.9% in the 3rd quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock valued at $13,521,497,000 after acquiring an additional 18,824,923 shares during the period. State Street Corp grew 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 worth $4,617,004,000 after purchasing an additional 16,375,734 shares in the last quarter. Norges Bank acquired a new position in shares of Robinhood Markets during the fourth quarter valued at $1,202,160,000. Paradigm Operations LP bought a new position in Robinhood Markets in the 2nd quarter valued at about $308,979,000. Finally, Corient Private Wealth LLC increased its stake in Robinhood Markets by 5,221.4% during the 4th quarter. Corient Private Wealth LLC now owns 2,559,848 shares of the company’s stock valued at $289,519,000 after buying an additional 2,511,743 shares during the period. 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.