Robinhood Markets (NASDAQ:HOOD) Reaches New 12-Month High - What's Next?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $94.24 and last traded at $93.63, with a volume of 99598553 shares. The stock had previously closed at $83.03.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group upped their price objective on Robinhood Markets from $82.00 to $91.00 and gave the stock a "buy" rating in a report on Friday. JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Mizuho upped their price objective on Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a report on Tuesday. Keefe, Bruyette & Woods restated a "market perform" rating and set a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. Finally, Morgan Stanley increased their price target on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of "Moderate Buy" and an average target price of $69.00.

Robinhood Markets Price Performance

The stock has a fifty day moving average price of $64.93 and a two-hundred day moving average price of $52.03. The company has a market cap of $81.75 billion, a P/E ratio of 52.46, a PEG ratio of 4.90 and a beta of 2.25.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The business's quarterly revenue was up 50.0% on a year-over-year basis. During the same period last year, the firm posted $0.18 EPS. As a group, analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In related news, insider Steven M. Quirk sold 104,887 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the transaction, the insider owned 228,621 shares in the company, valued at $16,035,476.94. This trade represents a 31.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the transaction, the director owned 7,863 shares in the company, valued at $506,848.98. This represents a 98.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,722,691 shares of company stock worth $107,708,726 over the last quarter. 19.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HOOD. Principal Financial Group Inc. increased its stake in shares of Robinhood Markets by 170.7% during the fourth quarter. Principal Financial Group Inc. now owns 116,732 shares of the company's stock valued at $4,349,000 after acquiring an additional 73,607 shares during the period. IFP Advisors Inc grew its position in Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock worth $164,000 after buying an additional 3,769 shares during the last quarter. Bank of New York Mellon Corp grew its position in Robinhood Markets by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,549,758 shares of the company's stock worth $95,004,000 after buying an additional 117,342 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Robinhood Markets in the fourth quarter worth approximately $273,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Robinhood Markets in the fourth quarter worth approximately $973,000. Institutional investors and hedge funds 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.