Robinhood Markets (NASDAQ:HOOD) Reaches New 52-Week High – Still a Buy?

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

Analysts Set New Price Targets

Several research analysts have recently commented on HOOD shares. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price (up from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Sanford C. Bernstein lifted their price objective on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $20.00 to $43.00 in a report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price target on Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. 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 investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus target price of $43.07.

Robinhood Markets Trading Up 0.3 %

The firm has a market capitalization of $44.34 billion, a price-to-earnings ratio of 85.02, a P/E/G ratio of 0.67 and a beta of 2.07. The firm’s 50-day moving average is $39.64 and its 200 day moving average is $28.77.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data 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). The business had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.09) EPS. Analysts predict that Robinhood Markets, Inc. will post 0.97 EPS for the current year.

Insider Transactions at Robinhood Markets

In related news, 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 sale, the insider now owns 395,166 shares in the company, valued at $14,834,531.64. This represents a 4.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, November 4th. The stock was 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 3,700,658 shares of company stock worth $140,360,682 over the last ninety days. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

Large investors have recently made changes to their positions in the company. American Century Companies Inc. bought a new stake in Robinhood Markets during the second quarter worth $486,000. Dimensional Fund Advisors LP boosted its holdings in Robinhood Markets by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock worth $92,549,000 after purchasing an additional 112,967 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Robinhood Markets by 21.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 27,071 shares of the company’s stock worth $615,000 after purchasing an additional 4,843 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Robinhood Markets by 7.1% in the second quarter. Hsbc Holdings PLC now owns 184,009 shares of the company’s stock valued at $4,165,000 after acquiring an additional 12,263 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Robinhood Markets in the second quarter worth $207,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

About Robinhood Markets

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.