Robinhood Markets (NASDAQ:HOOD) Sets New 1-Year High – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $38.96 and last traded at $38.96, with a volume of 1399098 shares changing hands. The stock had previously closed at $36.65.

Analysts Set New Price Targets

Several research firms have recently issued reports on HOOD. Bank of America lifted their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Citigroup boosted their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Sanford C. Bernstein boosted their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.59.

Robinhood Markets Price Performance

The stock has a market cap of $33.69 billion, a price-to-earnings ratio of 62.12, a P/E/G ratio of 0.85 and a beta of 1.84. The company’s fifty day moving average price is $26.96 and its 200-day moving average price is $23.00.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. During the same quarter last year, the company posted ($0.09) EPS. Robinhood Markets’s quarterly revenue was up 36.4% compared to the same quarter last year. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the sale, the insider now owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. This represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,685,549 shares of company stock worth $114,953,194. 19.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its holdings in Robinhood Markets by 1,211,858.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after purchasing an additional 3,817,355 shares in the last quarter. Azora Capital LP purchased a new position in Robinhood Markets in the 3rd quarter valued at $79,780,000. FMR LLC lifted its holdings in Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after purchasing an additional 2,094,800 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Robinhood Markets by 19.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.