Robinhood Markets (NASDAQ:HOOD) Hits New 12-Month High - What's Next?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares 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 changing hands. The stock had previously closed at $40.20.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of recent analyst reports. Morgan Stanley upgraded Robinhood Markets from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $24.00 to $55.00 in a report on Monday, November 25th. JMP Securities lifted their target price 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. Needham & Company LLC reissued a "buy" rating and set a $52.00 target price (up from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Piper Sandler lifted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an "overweight" rating in a report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus target price of $38.13.

Robinhood Markets Price Performance

The firm's 50 day simple moving average is $31.70 and its two-hundred day simple moving average is $25.04. The firm has a market capitalization of $38.19 billion, a P/E ratio of 73.78, a P/E/G ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released 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 net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same period last year, the firm posted ($0.09) EPS. The company's revenue was up 36.4% on a year-over-year basis. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 0.8 EPS for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 98,404 shares of the company's stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the completion of the transaction, the director now owns 2,521 shares of the company's stock, valued at $66,554.40. This represents a 97.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total value of $279,625.00. Following the completion of the sale, the insider now owns 1,057,500 shares in the company, valued at approximately $23,656,275. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,037,689 shares of company stock worth $177,092,487. Insiders own 19.95% of the company's stock.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HM Payson & Co. raised its holdings in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company's stock worth $28,000 after purchasing an additional 410 shares in the last quarter. Eastern Bank bought a new position in Robinhood Markets in the third quarter worth about $30,000. True Wealth Design LLC bought a new position in Robinhood Markets in the third quarter worth about $30,000. ORG Wealth Partners LLC purchased a new stake in 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 during the 2nd quarter worth approximately $40,000. 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.

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