Robinhood Markets (NASDAQ:HOOD) Hits New 12-Month High – Here’s Why

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $57.27 and last traded at $56.27, with a volume of 23443481 shares. The stock had previously closed at $55.86.

Analysts Set New Price Targets

Several brokerages have recently commented on HOOD. Piper Sandler increased their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Raymond James began coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating on the stock. KeyCorp boosted their price objective on shares of Robinhood Markets from $50.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods increased their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Finally, Citigroup lifted their target price on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.67.

Robinhood Markets Stock Performance

The stock has a market capitalization of $49.74 billion, a P/E ratio of 95.37, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. The stock has a 50-day moving average price of $43.87 and a two-hundred day moving average price of $31.51.

Insider Activity at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the completion of the transaction, the chief technology officer now directly owns 11,752 shares of the company’s stock, valued at $445,635.84. This represents a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,857,561 shares of company stock worth $159,976,719 over the last quarter. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HOOD. Dorsey & Whitney Trust CO LLC grew its stake in Robinhood Markets by 2.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after purchasing an additional 233 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock valued at $142,000 after buying an additional 277 shares in the last quarter. HM Payson & Co. boosted its holdings in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares in the last quarter. Commerce Bank grew its position in shares of Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after buying an additional 423 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Robinhood Markets by 16.5% in the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after acquiring an additional 487 shares in the last quarter. 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.