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

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $136.84 and last traded at $136.72, with a volume of 61878530 shares traded. The stock had previously closed at $121.78.

Analyst Upgrades and Downgrades

HOOD has been the subject of several research reports. KeyCorp raised their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Redburn Atlantic reiterated a "sell" rating and issued a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 9th. The Goldman Sachs Group lifted their price target on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Finally, Mizuho lifted their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, September 10th. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $104.06.

Robinhood Markets Stock Up 12.3%

The business's 50 day simple moving average is $111.13 and its two-hundred day simple moving average is $80.02. The stock has a market cap of $121.50 billion, a P/E ratio of 69.40, a PEG ratio of 4.34 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company's revenue was up 45.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 earnings per share. As a group, research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In other Robinhood Markets news, Director Meyer Malka sold 1,093,288 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the sale, the director owned 3,976,234 shares of the company's stock, valued at approximately $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 60,113 shares of the business's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares in the company, valued at approximately $9,531,353.14. The trade was a 38.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,931,462 shares of company stock valued at $511,774,417. 19.95% of the stock is currently owned by insiders.

Institutional Trading of Robinhood Markets

Several institutional investors have recently modified their holdings of the business. True Vision MN LLC grew its position in Robinhood Markets by 1.7% in the 2nd quarter. True Vision MN LLC now owns 6,858 shares of the company's stock worth $642,000 after purchasing an additional 116 shares in the last quarter. Forum Financial Management LP grew its position in Robinhood Markets by 0.8% in the 2nd quarter. Forum Financial Management LP now owns 17,997 shares of the company's stock worth $1,685,000 after purchasing an additional 134 shares in the last quarter. Hemington Wealth Management grew its position in Robinhood Markets by 22.5% in the 2nd quarter. Hemington Wealth Management now owns 779 shares of the company's stock worth $72,000 after purchasing an additional 143 shares in the last quarter. Ballentine Partners LLC grew its position in Robinhood Markets by 2.3% in the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company's stock worth $620,000 after purchasing an additional 148 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company's stock worth $25,000 after purchasing an additional 148 shares in the last quarter. 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.

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