Robinhood Markets (NASDAQ:HOOD) Reaches New 1-Year High - Time to Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $104.62 and last traded at $103.25, with a volume of 54537635 shares changing hands. The stock had previously closed at $99.54.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HOOD. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. Cantor Fitzgerald raised their price target on Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft raised their price target on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, Barclays raised their price target on Robinhood Markets from $57.00 to $102.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, six have given 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 price target of $85.29.

Robinhood Markets Stock Performance

The stock has a market cap of $93.37 billion, a P/E ratio of 59.92, a P/E/G ratio of 5.26 and a beta of 2.36. The business has a 50 day simple moving average of $77.63 and a 200-day simple moving average of $57.05.

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

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the sale, the director directly owned 7,863 shares in the company, valued at $506,848.98. The trade was a 98.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the completion of the transaction, the insider owned 228,621 shares of the company's stock, valued at approximately $16,035,476.94. This trade represents a 31.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,364,145 shares of company stock worth $181,837,741 in the last ninety days. 14.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HOOD. Ballentine Partners LLC raised its stake in shares of Robinhood Markets by 2.3% in the second quarter. Ballentine Partners LLC now owns 6,624 shares of the company's stock worth $620,000 after purchasing an additional 148 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Robinhood Markets by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after purchasing an additional 171 shares during the last quarter. Cigna Investments Inc. New grew its holdings in shares of Robinhood Markets by 2.7% in the first quarter. Cigna Investments Inc. New now owns 6,730 shares of the company's stock worth $280,000 after acquiring an additional 174 shares during the period. Hemington Wealth Management grew its holdings in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in shares of Robinhood Markets by 4.0% in the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after acquiring an additional 265 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

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.