Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $45.88 and last traded at $45.78, with a volume of 12396366 shares traded. The stock had previously closed at $41.76.
Analysts Set New Price Targets
Several analysts recently weighed in on the stock. JMP Securities raised their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. KeyCorp raised their price target on Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Piper Sandler upped their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Finally, Keefe, Bruyette & Woods raised their target price on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and a consensus price target of $42.47.
View Our Latest Analysis on HOOD
Robinhood Markets Price Performance
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm’s revenue was up 36.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 0.8 earnings per share for the current fiscal year.
Insider Activity at Robinhood Markets
In other news, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $40.45, for a total transaction of $4,045,000.00. Following the sale, the insider now owns 731,642 shares of the company’s stock, valued at $29,594,918.90. The trade was a 12.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction on Friday, December 20th. The stock was sold at an average price of $37.92, for a total value of $222,817.92. Following the transaction, the chief technology officer now directly owns 11,752 shares of the company’s stock, valued at approximately $445,635.84. This represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,708,196 shares of company stock worth $138,845,043 over the last 90 days. Company insiders own 19.95% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in HOOD. HM Payson & Co. raised its position in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares during the last quarter. Eastern Bank purchased a new position in shares of Robinhood Markets during the 3rd quarter worth approximately $30,000. True Wealth Design LLC purchased a new position in shares of Robinhood Markets during the 3rd quarter worth approximately $30,000. ORG Wealth Partners LLC acquired a new position in shares of Robinhood Markets during the 3rd quarter worth approximately $33,000. Finally, Connective Portfolio Management LLC purchased a new stake in Robinhood Markets in the 3rd quarter valued at approximately $47,000. Hedge funds and other 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.
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