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

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $68.20 and last traded at $65.55, with a volume of 7514032 shares changing hands. The stock had previously closed at $66.15.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald reduced their target price on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $54.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Needham & Company LLC restated a "buy" rating and issued a $71.00 target price on shares of Robinhood Markets in a research note on Tuesday, May 27th. Compass Point began coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 target price on the stock. Finally, JMP Securities reiterated a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average target price of $55.41.

Robinhood Markets Trading Up 5.5%

The stock has a market capitalization of $63.51 billion, a P/E ratio of 45.68, a PEG ratio of 1.05 and a beta of 2.15. The company has a fifty day simple moving average of $50.14 and a two-hundred day simple moving average of $46.49.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 earnings per share. As a group, analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Steven M. Quirk sold 24,311 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $54.93, for a total value of $1,335,403.23. Following the completion of the sale, the insider now directly owns 299,349 shares of the company's stock, valued at $16,443,240.57. This represents a 7.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Baiju Bhatt sold 223,528 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $43.21, for a total value of $9,658,644.88. Following the completion of the sale, the director now directly owns 5,042 shares of the company's stock, valued at approximately $217,864.82. This trade represents a 97.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,102,737 shares of company stock valued at $102,593,978 in the last ninety days. 14.47% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Whipplewood Advisors LLC grew its position in shares of Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares during the period. Hemington Wealth Management grew its position 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 purchasing an additional 218 shares during the period. Wayfinding Financial LLC acquired a new position in shares of Robinhood Markets in the 1st quarter valued at approximately $30,000. CoreCap Advisors LLC grew its position 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 purchasing an additional 550 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its position in Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after acquiring an additional 750 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

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.