Robinhood Markets (NASDAQ:HOOD) Sets New 12-Month High – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $27.84 and last traded at $27.84, with a volume of 385838 shares changing hands. The stock had previously closed at $27.06.

Wall Street Analyst Weigh In

Several research firms have weighed in on HOOD. JPMorgan Chase & Co. increased their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. Morgan Stanley boosted their price objective on Robinhood Markets from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. KeyCorp increased their target price on shares of Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Piper Sandler lifted their price target on shares of Robinhood Markets from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group raised their target price on shares of Robinhood Markets from $22.50 to $25.00 and gave the company a “neutral” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Robinhood Markets has an average rating of “Hold” and a consensus price target of $24.97.

Robinhood Markets Stock Up 1.9 %

The firm has a 50 day moving average of $22.84 and a 200-day moving average of $21.15. The company has a market cap of $24.23 billion, a P/E ratio of 180.40 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The company had revenue of $682.00 million during the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 earnings per share. On average, research analysts predict that Robinhood Markets, Inc. will post 0.74 EPS for the current fiscal year.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets 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 document filed with the SEC, which is available at the SEC website. In other Robinhood Markets news, insider Steven M. Quirk sold 208,291 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the sale, the insider now owns 346,020 shares of the company’s stock, valued at approximately $8,643,579.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,639,654 shares of company stock worth $110,241,632. 19.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Eastern Bank acquired a new stake in shares of Robinhood Markets in the third quarter worth $30,000. ORG Wealth Partners LLC purchased a new position in shares of Robinhood Markets during the 3rd quarter valued at about $33,000. ORG Partners LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at about $33,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Robinhood Markets in the first quarter worth about $34,000. Finally, International Assets Investment Management LLC acquired a new stake in Robinhood Markets during the second quarter worth about $40,000. 93.27% of the stock is owned by institutional investors and hedge funds.

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.