Robinhood Markets (NASDAQ:HOOD) Reaches New 12-Month High – Here’s Why

Robinhood Markets, Inc. (NASDAQ:HOOD) hit a new 52-week high on Tuesday . The company traded as high as $57.27 and last traded at $56.27, with a volume of 23443481 shares. The stock had previously closed at $55.86.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JMP Securities lifted their price objective on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 12th. Raymond James started coverage on Robinhood Markets in a research report on Wednesday, February 5th. They issued a “market perform” rating for the company. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Finally, Mizuho boosted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Four equities 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, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.67.

Robinhood Markets Stock Up 4.8 %

The company’s 50 day simple moving average is $44.48 and its two-hundred day simple moving average is $31.90. The company has a market capitalization of $49.42 billion, a price-to-earnings ratio of 94.76, a P/E/G ratio of 0.73 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Analysts anticipate that Robinhood Markets, Inc. will post 0.97 EPS for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.22, for a total transaction of $477,750.00. Following the sale, the insider now directly owns 1,106,955 shares in the company, valued at $42,307,820.10. This represents a 1.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven M. Quirk sold 19,861 shares of Robinhood Markets stock in a transaction dated Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value 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. This trade represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,948,427 shares of company stock valued at $165,005,244. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its stake in shares of Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after acquiring an additional 3,368,118 shares during the period. State Street Corp lifted its position in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after purchasing an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Robinhood Markets by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock worth $455,464,000 after acquiring an additional 555,299 shares in the last quarter. Norges Bank bought a new stake in Robinhood Markets during the fourth quarter valued at $329,598,000. Finally, GQG Partners LLC bought a new stake in shares of Robinhood Markets in the 4th quarter worth approximately $302,325,000. 93.27% of the stock is 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.