Robinhood Markets (NASDAQ:HOOD) Hits New 12-Month High on Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price reached a new 52-week high during trading on Thursday after KeyCorp raised their price target on the stock from $50.00 to $57.00. KeyCorp currently has an overweight rating on the stock. Robinhood Markets traded as high as $52.14 and last traded at $52.21, with a volume of 242501 shares. The stock had previously closed at $51.15.

HOOD has been the subject of several other reports. The Goldman Sachs Group raised Robinhood Markets from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Sanford C. Bernstein boosted their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. Keefe, Bruyette & Woods raised their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a "market perform" rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Finally, Citigroup upped their price target on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $43.73.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the firm's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $24.21, for a total value of $6,052,500.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Steven M. Quirk sold 19,861 shares of the company's stock in a transaction dated Sunday, December 1st. The stock was sold at an average price of $37.54, for a total transaction of $745,581.94. Following the completion of the transaction, the insider now owns 395,166 shares of the company's stock, valued at approximately $14,834,531.64. This trade represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,297,400 shares of company stock worth $170,630,852. 19.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently made changes to their positions in HOOD. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets during the 4th quarter valued at $26,000. Silicon Valley Capital Partners acquired a new position in Robinhood Markets during the 4th quarter valued at about $37,000. Bogart Wealth LLC bought a new position in shares of Robinhood Markets during the 4th quarter worth approximately $37,000. Spire Wealth Management raised its holdings in shares of Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock valued at $40,000 after purchasing an additional 549 shares during the period. Finally, Allworth Financial LP grew its position in shares of Robinhood Markets by 130.7% in the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company's stock valued at $42,000 after purchasing an additional 643 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Up 3.6 %

The firm has a 50 day moving average of $41.22 and a 200-day moving average of $29.74. The firm has a market capitalization of $46.85 billion, a P/E ratio of 89.83, a PEG ratio of 0.67 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). The firm had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm's revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. As a group, research analysts expect that Robinhood Markets, Inc. will post 0.97 EPS for the current year.

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.