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

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price hit a new 52-week high during mid-day 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.

Analyst Ratings Changes

Several brokerages have weighed in on HOOD. Needham & Company LLC reiterated a "buy" rating and issued a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. JMP Securities increased their price objective on Robinhood Markets from $33.00 to $40.00 and gave the stock a "market outperform" rating in a report on Tuesday, November 12th. Morgan Stanley upgraded shares of Robinhood Markets from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $24.00 to $55.00 in a research note on Monday, November 25th. Citigroup increased their price target 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, KeyCorp boosted their price objective on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $42.47.

Robinhood Markets Price Performance

The business's 50 day moving average price is $37.63 and its 200 day moving average price is $27.75. The firm has a market cap of $40.27 billion, a PE ratio of 77.22, a PEG ratio of 0.81 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly 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). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. During the same period in the prior year, the firm earned ($0.09) earnings per share. The business's revenue was up 36.4% on a year-over-year basis. As a group, analysts predict that Robinhood Markets, Inc. will post 0.8 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $42.64, for a total transaction of $250,552.64. Following the transaction, the chief technology officer now directly owns 5,876 shares in the company, valued at $250,552.64. The trade was a 50.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $24.21, for a total value of $6,052,500.00. The disclosure for this sale can be found here. Insiders sold 3,708,196 shares of company stock valued at $138,845,043 over the last 90 days. 19.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HOOD. HM Payson & Co. raised its position in Robinhood Markets by 53.5% in the third 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 period. True Wealth Design LLC acquired a new stake in shares of Robinhood Markets during the 3rd quarter worth about $30,000. Eastern Bank purchased a new stake in Robinhood Markets in the 3rd quarter valued at about $30,000. ORG Wealth Partners LLC acquired a new position in Robinhood Markets in the third quarter valued at about $33,000. Finally, Connective Portfolio Management LLC purchased a new position in Robinhood Markets during the third quarter worth about $47,000. Institutional investors and hedge funds 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.