Robinhood Markets (NASDAQ:HOOD) Hits New 1-Year High at $19.42

Robinhood Markets, Inc. (NASDAQ:HOODGet Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $19.42 and last traded at $19.20, with a volume of 7419790 shares traded. The stock had previously closed at $18.56.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HOOD shares. Barclays boosted their price objective on shares of Robinhood Markets from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Piper Sandler boosted their target price on shares of Robinhood Markets from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. JPMorgan Chase & Co. boosted their target price on shares of Robinhood Markets from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Morgan Stanley reduced their target price on shares of Robinhood Markets from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Friday, November 24th. Finally, Redburn Atlantic assumed coverage on shares of Robinhood Markets in a research report on Friday, December 1st. They set a “neutral” rating and a $9.50 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.46.

View Our Latest Stock Report on Robinhood Markets

Robinhood Markets Stock Performance

The stock’s 50 day simple moving average is $13.88 and its two-hundred day simple moving average is $11.51.

Robinhood Markets (NASDAQ:HOODGet Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, topping 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 firm had revenue of $471.00 million for the quarter, compared to the consensus estimate of $454.73 million. During the same quarter in the previous year, the company earned ($0.19) earnings per share. The business’s revenue was up 23.9% compared to the same quarter last year. Equities analysts forecast that Robinhood Markets, Inc. will post 0.23 EPS for the current fiscal year.

Insider Activity

In related news, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $12.43, for a total value of $62,150.00. Following the completion of the transaction, the chief financial officer now directly owns 921,267 shares of the company’s stock, valued at $11,451,348.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred 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 transaction, the chief executive officer now owns 41,134 shares of the company’s stock, valued at $494,019.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $12.43, for a total transaction of $62,150.00. Following the completion of the sale, the chief financial officer now owns 921,267 shares in the company, valued at $11,451,348.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,435,027 shares of company stock worth $34,531,948. Corporate insiders own 20.81% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of HOOD. Raymond James & Associates increased its holdings in shares of Robinhood Markets by 30.3% in the first quarter. Raymond James & Associates now owns 69,419 shares of the company’s stock valued at $938,000 after purchasing an additional 16,133 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Robinhood Markets in the first quarter valued at about $199,000. Bank of New York Mellon Corp boosted its position in shares of Robinhood Markets by 21.9% in the first quarter. Bank of New York Mellon Corp now owns 53,868 shares of the company’s stock valued at $727,000 after acquiring an additional 9,661 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Robinhood Markets by 69.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,760 shares of the company’s stock valued at $294,000 after acquiring an additional 8,882 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of Robinhood Markets by 38.2% in the first quarter. HighTower Advisors LLC now owns 92,318 shares of the company’s stock valued at $1,248,000 after acquiring an additional 25,502 shares during the period. 58.98% of the stock is currently owned by institutional investors and hedge funds.

About Robinhood Markets

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Robinhood Markets Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Robinhood Markets and related companies with MarketBeat.com's FREE daily email newsletter.