Robinhood Markets (NASDAQ:HOOD) Sets New 12-Month High – Time to Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $43.20 and last traded at $43.20, with a volume of 15992496 shares. The stock had previously closed at $40.20.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HOOD. Citigroup raised their price target on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. JMP Securities raised their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Piper Sandler increased their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $38.13.

Robinhood Markets Stock Down 10.9 %

The company has a market capitalization of $32.78 billion, a PE ratio of 62.85, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09. The stock’s 50 day moving average is $32.64 and its two-hundred day moving average is $25.42.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $637.00 million for 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 business’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) earnings per share. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $23.42, for a total transaction of $545,522.06. Following the transaction, the insider now owns 1,070,000 shares in the company, valued at $25,059,400. This represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Baiju Bhatt sold 186,514 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the completion of the sale, the director now owns 2,521 shares of the company’s stock, valued at $96,125.73. This trade represents a 98.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,037,689 shares of company stock valued at $177,092,487. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HM Payson & Co. grew its holdings in shares of Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares during the last quarter. True Wealth Design LLC purchased a new stake in Robinhood Markets during the 3rd quarter valued at about $30,000. Eastern Bank acquired a new position in shares of Robinhood Markets in the third quarter valued at about $30,000. ORG Wealth Partners LLC purchased a new position in shares of Robinhood Markets in the third quarter worth about $33,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Robinhood Markets in the second quarter worth about $40,000. Hedge funds and other institutional investors 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.