Robinhood Markets (NASDAQ:HOOD) Sets New 12-Month High – Still a Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $49.79 and last traded at $48.77, with a volume of 1346651 shares. The stock had previously closed at $48.15.

Analysts Set New Price Targets

HOOD has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their target price on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price objective (up from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Sanford C. Bernstein increased their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $20.00 to $43.00 in a report on Tuesday, January 7th. Finally, Piper Sandler increased their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Three 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, Robinhood Markets has a consensus rating of “Moderate Buy” and an average target price of $43.07.

Robinhood Markets Stock Performance

The firm has a fifty day simple moving average of $38.94 and a 200 day simple moving average of $28.43. The company has a market capitalization of $43.60 billion, a PE ratio of 82.95, a P/E/G ratio of 0.70 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data 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). The business 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% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) EPS. Research analysts expect that Robinhood Markets, Inc. will post 0.91 EPS for the current fiscal year.

Insider Activity

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $37.92, for a total transaction of $222,817.92. Following the sale, the chief technology officer now directly owns 11,752 shares in the company, valued at $445,635.84. This trade represents a 33.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Meyer Malka sold 1,535,681 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the completion of the transaction, the director now directly owns 4,974,238 shares in the company, valued at $199,516,686.18. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,700,658 shares of company stock valued at $140,360,682 over the last ninety days. 19.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the company. American Century Companies Inc. purchased a new stake in shares of Robinhood Markets during the 2nd quarter worth $486,000. Dimensional Fund Advisors LP raised its stake in Robinhood Markets by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock worth $92,549,000 after acquiring an additional 112,967 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Robinhood Markets by 21.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 27,071 shares of the company’s stock valued at $615,000 after acquiring an additional 4,843 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Robinhood Markets by 7.1% during the second quarter. Hsbc Holdings PLC now owns 184,009 shares of the company’s stock worth $4,165,000 after purchasing an additional 12,263 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Robinhood Markets in the 2nd quarter valued at approximately $207,000. 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.