Robinhood Markets (NASDAQ:HOOD) Sets New 52-Week High – Here’s What Happened

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $43.20 and last traded at $43.20, with a volume of 15992496 shares trading hands. The stock had previously closed at $40.20.

Analyst Ratings Changes

Several research firms have commented on HOOD. The Goldman Sachs Group upgraded 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. Barclays raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $26.00 to $49.00 in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. JMP Securities upped their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. Finally, KeyCorp raised their target price on Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.13.

Robinhood Markets Stock Performance

The company has a market capitalization of $32.78 billion, a price-to-earnings ratio of 62.85, a P/E/G ratio of 0.76 and a beta of 2.09. The firm has a 50-day simple moving average of $32.64 and a two-hundred day simple moving average of $25.42.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $660.53 million. During the same period in the previous year, the company earned ($0.09) earnings per share. Robinhood Markets’s quarterly revenue was up 36.4% on a year-over-year basis. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, Director Meyer Malka sold 1,535,681 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total value of $61,596,164.91. Following the completion of the transaction, the director now owns 4,974,238 shares in the company, valued at $199,516,686.18. The trade was a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 186,514 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the completion of the sale, the director now directly owns 2,521 shares in the company, valued at approximately $96,125.73. This represents a 98.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,037,689 shares of company stock worth $177,092,487. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Several institutional investors have recently modified their holdings of HOOD. Raymond James & Associates increased its position in shares of Robinhood Markets by 28.6% during the second quarter. Raymond James & Associates now owns 56,203 shares of the company’s stock worth $1,276,000 after purchasing an additional 12,512 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Robinhood Markets by 2,611.8% in the second quarter. Nisa Investment Advisors LLC now owns 39,050 shares of the company’s stock valued at $887,000 after buying an additional 37,610 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of Robinhood Markets in the second quarter valued at approximately $258,000. Fullcircle Wealth LLC purchased a new position in shares of Robinhood Markets during the second quarter worth approximately $218,000. Finally, Silvant Capital Management LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at $1,036,000. 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.