Robinhood Markets (NASDAQ:HOOD) Reaches New 1-Year High – Still a Buy?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) hit a new 52-week high during trading on Wednesday . The company traded as high as $45.88 and last traded at $45.78, with a volume of 12396366 shares changing hands. The stock had previously closed at $41.76.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HOOD shares. Piper Sandler boosted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their target price for the company from $40.00 to $46.00 in a report on Friday, December 6th. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $20.00 to $43.00 in a report on Tuesday, January 7th. Citigroup boosted their target price on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, Barclays boosted their target price on shares of Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.47.

Robinhood Markets Stock Performance

The stock has a 50-day simple moving average of $38.28 and a two-hundred day simple moving average of $28.00. The firm has a market cap of $40.73 billion, a PE ratio of 78.10, a price-to-earnings-growth ratio of 0.58 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share 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 business had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $660.53 million. During the same period last year, the firm posted ($0.09) EPS. Robinhood Markets’s quarterly revenue was up 36.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven M. Quirk sold 19,861 shares of the company’s stock in a transaction dated Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the sale, the insider now directly owns 395,166 shares of the company’s stock, valued at $14,834,531.64. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,609,792 shares of company stock valued at $136,247,178. 19.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently made changes to their positions in the business. HM Payson & Co. increased its position in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the last quarter. Commerce Bank increased its holdings in Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after acquiring an additional 423 shares in the last quarter. Signaturefd LLC increased its holdings in Robinhood Markets by 16.5% in the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after acquiring an additional 487 shares in the last quarter. Castleview Partners LLC increased its holdings in Robinhood Markets by 18.2% in the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock worth $89,000 after acquiring an additional 582 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in Robinhood Markets by 3.1% in the 3rd quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock worth $463,000 after acquiring an additional 598 shares in the last quarter. 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.