Robinhood Markets (NASDAQ:HOOD) Hits New 12-Month High at $22.34

Robinhood Markets, Inc. (NASDAQ:HOODGet Free Report)’s stock price reached a new 52-week high on Friday . The stock traded as high as $22.34 and last traded at $21.79, with a volume of 2049003 shares traded. The stock had previously closed at $21.84.

Analyst Upgrades and Downgrades

HOOD has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Morgan Stanley lifted their target price on Robinhood Markets from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Barclays lifted their target price on Robinhood Markets from $16.00 to $18.00 and gave the stock an “underweight” rating in a research report on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a research report on Monday, May 6th. Finally, Citigroup cut shares of Robinhood Markets from a “neutral” rating to a “sell” rating and increased their target price for the stock from $13.00 to $16.00 in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.75.

View Our Latest Stock Report on Robinhood Markets

Robinhood Markets Price Performance

The firm has a market cap of $18.37 billion, a price-to-earnings ratio of 139.33 and a beta of 1.74. The firm has a fifty day simple moving average of $18.57 and a two-hundred day simple moving average of $14.65.

Robinhood Markets (NASDAQ:HOODGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.13. The company had revenue of $618.00 million during the quarter, compared to analyst estimates of $552.74 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The firm’s quarterly revenue was up 40.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.57) EPS. Equities analysts anticipate that Robinhood Markets, Inc. will post 0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 45,545 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $21.11, for a total value of $961,454.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Baiju Bhatt sold 16,667 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $18.27, for a total transaction of $304,506.09. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Vladimir Tenev sold 45,545 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $21.11, for a total transaction of $961,454.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,417,682 shares of company stock valued at $25,054,243. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. Spire Wealth Management acquired a new stake in Robinhood Markets during the fourth quarter valued at $26,000. PNC Financial Services Group Inc. grew its position in Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the period. UniSuper Management Pty Ltd acquired a new stake in Robinhood Markets during the third quarter valued at $30,000. Allspring Global Investments Holdings LLC acquired a new stake in Robinhood Markets during the first quarter valued at $34,000. Finally, Whittier Trust Co. grew its position in shares of Robinhood Markets by 100.0% in the fourth quarter. Whittier Trust Co. now owns 4,634 shares of the company’s stock valued at $59,000 after purchasing an additional 2,317 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Company Profile

(Get Free Report)

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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