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

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $28.98 and last traded at $28.95, with a volume of 22434861 shares trading hands. The stock had previously closed at $24.96.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of analyst reports. Piper Sandler raised their target price on Robinhood Markets from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. JMP Securities raised their target price on Robinhood Markets from $30.00 to $33.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, October 17th. Morgan Stanley lifted their price objective on Robinhood Markets from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Barclays lifted their price objective on Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.17.

Robinhood Markets Stock Performance

The stock has a market cap of $26.42 billion, a PE ratio of 49.00, a price-to-earnings-growth ratio of 0.54 and a beta of 1.84. The company’s 50-day moving average price is $23.58 and its 200 day moving average price is $21.57.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) EPS. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 0.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 143,944 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Robinhood Markets news, Director Baiju Bhatt sold 143,944 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $24.21, for a total transaction of $6,052,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,639,654 shares of company stock valued at $112,281,632 over the last quarter. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Robinhood Markets by 1.8% in the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock worth $1,143,960,000 after acquiring an additional 1,003,535 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in shares of Robinhood Markets by 87.1% during the first quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock worth $117,000 after purchasing an additional 2,700 shares in the last quarter. O Neil Global Advisors Inc. acquired a new position in shares of Robinhood Markets during the second quarter worth $2,298,000. SG Americas Securities LLC grew its stake in shares of Robinhood Markets by 62.5% during the first quarter. SG Americas Securities LLC now owns 283,684 shares of the company’s stock worth $5,711,000 after purchasing an additional 109,059 shares in the last quarter. Finally, LifePro Asset Management acquired a new position in shares of Robinhood Markets during the third quarter worth $1,677,000. Institutional investors and hedge funds 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.