Robinhood Markets (NASDAQ:HOOD) Reaches New 52-Week High at $20.55

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $20.55 and last traded at $19.81, with a volume of 11503101 shares changing hands. The stock had previously closed at $19.28.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HOOD. Redburn Atlantic assumed coverage on shares of Robinhood Markets in a research note on Friday, December 1st. They set a “neutral” rating and a $9.50 price target on the stock. Mizuho raised their price objective on Robinhood Markets from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. lifted their price target on shares of Robinhood Markets from $10.00 to $12.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. The Goldman Sachs Group increased their price target on Robinhood Markets from $10.00 to $11.50 and gave the company a “neutral” rating in a report on Thursday, January 11th. Finally, TheStreet upgraded Robinhood Markets from a “d+” rating to a “c-” rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets has an average rating of “Hold” and a consensus price target of $16.04.

Robinhood Markets Trading Up 0.6 %

The company has a market capitalization of $17.60 billion, a price-to-earnings ratio of -33.55 and a beta of 1.63. The stock has a 50-day simple moving average of $14.59 and a 200-day simple moving average of $11.75.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The business had revenue of $471.00 million for the quarter, compared to analyst estimates of $454.73 million. During the same quarter in the prior year, the business posted ($0.19) EPS. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, research analysts forecast that Robinhood Markets, Inc. will post 0.23 EPS for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $12.01, for a total value of $3,002,500.00. Following the completion of the transaction, the chief executive officer now owns 41,134 shares of the company’s stock, valued at $494,019.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $12.01, for a total value of $3,002,500.00. Following the sale, the chief executive officer now owns 41,134 shares of the company’s stock, valued at approximately $494,019.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Baiju Bhatt sold 222,877 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $12.28, for a total transaction of $2,736,929.56. Following the transaction, the insider now directly owns 3,497 shares of the company’s stock, valued at approximately $42,943.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,435,027 shares of company stock valued at $34,531,948. Corporate insiders own 20.81% of the company’s stock.

Institutional Trading of Robinhood Markets

Several hedge funds have recently added to or reduced their stakes in HOOD. Vanguard Group Inc. raised its stake in shares of Robinhood Markets by 7,430.5% during the first quarter. Vanguard Group Inc. now owns 40,217,187 shares of the company’s stock valued at $543,334,000 after purchasing an additional 39,683,128 shares in the last quarter. BlackRock Inc. raised its position in shares of Robinhood Markets by 66.9% during the 3rd quarter. BlackRock Inc. now owns 19,731,132 shares of the company’s stock worth $199,283,000 after buying an additional 7,910,391 shares in the last quarter. Norges Bank acquired a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $84,165,000. State Street Corp boosted its stake in Robinhood Markets by 266.9% during the second quarter. State Street Corp now owns 5,574,481 shares of the company’s stock valued at $45,822,000 after buying an additional 4,055,065 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Robinhood Markets during the first quarter worth about $52,986,000. 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.