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

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price hit a new 52-week high during 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.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JMP Securities increased their price target on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. Barclays raised their target price on Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Sanford C. Bernstein boosted their price target on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Bank of America raised their price objective 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, Citigroup increased their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.59.

Robinhood Markets Trading Down 3.8 %

The company has a 50-day moving average of $27.27 and a 200-day moving average of $23.14. The firm has a market capitalization of $32.19 billion, a P/E ratio of 61.73, a price-to-earnings-growth ratio of 0.85 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. During the same period in the prior year, the firm earned ($0.09) earnings per share. Robinhood Markets’s revenue was up 36.4% compared to the same quarter last year. Research analysts predict that Robinhood Markets, Inc. will post 0.74 EPS for the current year.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the sale, the insider now owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. The trade was a 1.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,685,549 shares of company stock worth $114,953,194. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds have recently added to or reduced their stakes in the business. Baker Avenue Asset Management LP increased its stake in shares of Robinhood Markets by 77.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after acquiring an additional 203,354 shares in the last quarter. EULAV Asset Management increased its stake in Robinhood Markets by 22.2% in the third quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock valued at $12,881,000 after purchasing an additional 100,000 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Robinhood Markets during the third quarter valued at about $770,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Robinhood Markets by 146.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,161,240 shares of the company’s stock worth $27,196,000 after purchasing an additional 690,467 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Robinhood Markets by 85.3% in the 3rd quarter. Victory Capital Management Inc. now owns 117,383 shares of the company’s stock valued at $2,749,000 after buying an additional 54,046 shares during the period. 93.27% of the stock is currently owned by institutional investors.

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.