Robinhood Markets (NASDAQ:HOOD) Sets New 52-Week High Following Analyst Upgrade

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price reached a new 52-week high during trading on Tuesday after Piper Sandler raised their price target on the stock from $27.00 to $30.00. Piper Sandler currently has an overweight rating on the stock. Robinhood Markets traded as high as $27.60 and last traded at $27.48, with a volume of 7572192 shares. The stock had previously closed at $26.97.

HOOD has been the topic of several other research reports. Citigroup boosted their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Morgan Stanley boosted their price objective on shares of Robinhood Markets from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods dropped their target price on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. KeyCorp upped their target price on shares of Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Barclays upped their target price on shares of Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $24.97.

Insider Activity

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the transaction, the insider now directly owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the sale, the insider now directly owns 1,045,068 shares of the company’s stock, valued at approximately $20,201,164.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $23.42, for a total transaction of $545,522.06. Following the sale, the insider now directly owns 1,070,000 shares of the company’s stock, valued at approximately $25,059,400. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,639,654 shares of company stock valued at $110,241,632 over the last three months. Insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eastern Bank purchased a new stake in Robinhood Markets during the third quarter valued at approximately $30,000. ORG Wealth Partners LLC purchased a new stake in shares of Robinhood Markets in the third quarter worth $33,000. ORG Partners LLC purchased a new stake in shares of Robinhood Markets in the second quarter worth $33,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Robinhood Markets in the first quarter worth $34,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Robinhood Markets in the second quarter worth $40,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Up 1.6 %

The stock’s 50 day moving average price is $22.20 and its 200-day moving average price is $20.91. The stock has a market capitalization of $24.09 billion, a PE ratio of 182.73 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The business had revenue of $682.00 million during the quarter, compared to analyst estimates of $640.39 million. During the same quarter last year, the business earned $0.03 earnings per share. Robinhood Markets’s quarterly revenue was up 40.3% compared to the same quarter last year. On average, analysts forecast that Robinhood Markets, Inc. will post 0.76 earnings per share for the current year.

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.