Robinhood Markets (NASDAQ:HOOD) Reaches New 52-Week High - Here's What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $78.74 and last traded at $78.35, with a volume of 36067375 shares. The stock had previously closed at $74.95.

Analysts Set New Price Targets

HOOD has been the subject of several research reports. JMP Securities reiterated a "market outperform" rating and set a $70.00 price objective on shares of Robinhood Markets in a research note on Thursday, May 1st. Morgan Stanley lifted their price objective on shares of Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 13th. Redburn Atlantic reiterated a "sell" rating and set a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Needham & Company LLC reiterated a "buy" rating and set a $71.00 price objective on shares of Robinhood Markets in a research note on Tuesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Robinhood Markets presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.00.

Robinhood Markets Stock Up 0.2%

The business's 50-day simple moving average is $59.21 and its two-hundred day simple moving average is $49.74. The firm has a market cap of $69.51 billion, a price-to-earnings ratio of 44.60, a P/E/G ratio of 4.62 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 the consensus estimate 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 analyst estimates of $917.12 million. During the same quarter last year, the company earned $0.18 EPS. The firm's revenue for the quarter was up 50.0% on a year-over-year basis. On average, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the sale, the chief technology officer now owns 5,853 shares of the company's stock, valued at approximately $201,987.03. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher D. Payne acquired 26,500 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were acquired at an average cost of $74.19 per share, with a total value of $1,966,035.00. Following the purchase, the director now owns 26,500 shares in the company, valued at $1,966,035. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 2,421,593 shares of company stock worth $133,064,692 in the last 90 days. Insiders own 14.47% of the company's stock.

Institutional Trading of Robinhood Markets

Several large investors have recently bought and sold shares of HOOD. Whipplewood Advisors LLC grew its stake in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after acquiring an additional 508 shares in the last quarter. Hemington Wealth Management grew its stake in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after buying an additional 218 shares during the period. Wayfinding Financial LLC purchased a new stake in shares of Robinhood Markets in the 1st quarter valued at approximately $30,000. CoreCap Advisors LLC grew its stake in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares during the period. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after buying an additional 750 shares during the period. 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.