Robinhood Markets (NASDAQ:HOOD) Hits New 1-Year High – Here’s Why

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $53.66 and last traded at $53.47, with a volume of 5435439 shares changing hands. The stock had previously closed at $52.58.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HOOD. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Sanford C. Bernstein boosted their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Piper Sandler boosted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.67.

Robinhood Markets Stock Performance

The stock has a market cap of $49.38 billion, a P/E ratio of 94.68, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13. The firm’s 50 day moving average is $43.13 and its 200 day moving average is $30.91.

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total transaction of $477,750.00. Following the sale, the insider now owns 1,106,955 shares of the company’s stock, valued at approximately $42,307,820.10. The trade was a 1.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven M. Quirk sold 19,861 shares of the business’s stock in a transaction that occurred on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total transaction of $745,581.94. Following the sale, the insider now directly owns 395,166 shares in the company, valued at approximately $14,834,531.64. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,857,561 shares of company stock worth $159,976,719 in the last 90 days. 19.95% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

Several large investors have recently bought and sold shares of the stock. FMR LLC grew its position in Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares during the last quarter. State Street Corp boosted its holdings in shares of Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after acquiring an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 1,895,427 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after acquiring an additional 138,267 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Robinhood Markets by 19.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company’s stock valued at $179,463,000 after acquiring an additional 739,631 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

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.