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

Robinhood Markets, Inc. (NASDAQ:HOOD) hit a new 52-week high during mid-day trading on Monday . The company 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.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HOOD shares. JPMorgan Chase & Co. raised their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. Bank of America raised their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 12th. The Goldman Sachs Group dropped their price target on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Barclays raised their price target on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein lifted their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.59.

Robinhood Markets Stock Performance

The firm has a market cap of $33.69 billion, a PE ratio of 62.12, a PEG ratio of 0.85 and a beta of 1.84. The stock’s 50 day simple moving average is $26.96 and its 200 day simple moving average is $23.00.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $660.53 million. During the same period in the prior year, the business posted ($0.09) earnings per share. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. As a group, analysts anticipate that Robinhood Markets, Inc. will post 0.74 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 3,225,806 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the completion of the sale, the director now directly owns 29,357,336 shares in the company, valued at approximately $735,988,413.52. This trade represents a 9.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the sale, the insider now owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,685,549 shares of company stock worth $114,953,194. 19.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP lifted its holdings in Robinhood Markets by 77.9% during the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after purchasing an additional 203,354 shares in the last quarter. UniSuper Management Pty Ltd raised its position 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 valued at $117,000 after buying an additional 2,700 shares during the last quarter. EULAV Asset Management raised its position in shares of Robinhood Markets by 22.2% during the third quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock valued at $12,881,000 after buying an additional 100,000 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Robinhood Markets during the third quarter valued at approximately $770,000. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Robinhood Markets by 146.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,161,240 shares of the company’s stock valued at $27,196,000 after buying an additional 690,467 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.