Robinhood Markets (NASDAQ:HOOD) Sets New 52-Week High – Still a Buy?

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HOOD. KeyCorp lifted their price objective on Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Morgan Stanley upped their price target on shares of Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Citigroup lifted their price target on Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Finally, The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price objective for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.73.

Robinhood Markets Price Performance

The company’s fifty day moving average is $42.49 and its 200-day moving average is $30.59. The company has a market capitalization of $47.71 billion, a PE ratio of 91.68, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13.

Insider Buying and Selling at Robinhood Markets

In related news, Director Meyer Malka sold 105,875 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $3,176,250.00. Following the transaction, the director now directly owns 28,930,243 shares of the company’s stock, valued at $867,907,290. This represents a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 500,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $50.77, for a total value of $25,385,000.00. The disclosure for this sale can be found here. Insiders have sold 3,938,436 shares of company stock worth $161,862,969 over the last quarter. Insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. First Horizon Advisors Inc. increased its holdings in Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after buying an additional 277 shares during the period. HM Payson & Co. increased its stake in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares during the period. Commerce Bank raised its holdings in shares of Robinhood Markets by 3.3% during the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after purchasing an additional 423 shares during the last quarter. Signaturefd LLC boosted its holdings in Robinhood Markets by 16.5% in the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after purchasing an additional 487 shares during the last quarter. Finally, Spire Wealth Management raised its stake in shares of Robinhood Markets by 104.6% during the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after buying an additional 549 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other 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.