Robinhood Markets (NASDAQ:HOOD) Reaches New 12-Month High – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price hit a new 52-week high on Thursday . The company traded as high as $25.87 and last traded at $25.75, with a volume of 6626959 shares traded. The stock had previously closed at $25.65.

Wall Street Analyst Weigh In

HOOD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Barclays boosted their target price on Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. The Goldman Sachs Group boosted their price target on Robinhood Markets from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Bank of America boosted their price target on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of “Hold” and a consensus price target of $23.83.

Robinhood Markets Stock Up 3.0 %

The stock has a 50-day simple moving average of $21.08 and a 200 day simple moving average of $20.58. The company has a market cap of $23.09 billion, a PE ratio of 175.13 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The business had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $640.39 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The company’s revenue was up 40.3% on a year-over-year basis. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 0.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Meyer Malka sold 3,225,806 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the completion of the transaction, the director now directly owns 29,357,336 shares of the company’s stock, valued at approximately $735,988,413.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meyer Malka sold 3,225,806 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total value of $80,870,956.42. Following the sale, the director now directly owns 29,357,336 shares of the company’s stock, valued at $735,988,413.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,541,250 shares of company stock valued at $107,643,767 in the last three months. 19.95% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Robinhood Markets by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock worth $1,143,960,000 after acquiring an additional 1,003,535 shares during the period. Banque Cantonale Vaudoise lifted its holdings in shares of Robinhood Markets by 21,404.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock valued at $1,948,000 after buying an additional 96,318 shares during the period. UniSuper Management Pty Ltd lifted its holdings in shares of Robinhood Markets by 87.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock valued at $117,000 after buying an additional 2,700 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $8,299,000. Finally, O Neil Global Advisors Inc. purchased a new position in Robinhood Markets in the 2nd quarter valued at approximately $2,298,000. 93.27% of the stock is owned by institutional investors and hedge funds.

About Robinhood Markets

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.