Robinhood Markets (NASDAQ:HOOD) Reaches New 52-Week High – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $53.66 and last traded at $53.47, with a volume of 5435439 shares traded. The stock had previously closed at $52.58.

Analyst Ratings Changes

HOOD has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Barclays boosted their price objective on Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus target price of $43.73.

Robinhood Markets Trading Up 2.7 %

The company’s 50 day moving average is $42.49 and its 200-day moving average is $30.59. The company has a market capitalization of $47.71 billion, a P/E ratio of 91.68, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total value of $477,750.00. Following the transaction, the insider now directly owns 1,106,955 shares of the company’s stock, valued at approximately $42,307,820.10. This trade represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 19,861 shares of Robinhood Markets stock in a transaction on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total transaction of $745,581.94. Following the transaction, the insider now owns 395,166 shares in the company, valued at $14,834,531.64. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,938,436 shares of company stock valued at $161,862,969 in the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of HOOD. SVB Wealth LLC purchased a new position in Robinhood Markets during the fourth quarter valued at approximately $908,000. QRG Capital Management Inc. raised its position in shares of Robinhood Markets by 23.4% during the 4th quarter. QRG Capital Management Inc. now owns 99,678 shares of the company’s stock valued at $3,714,000 after purchasing an additional 18,894 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Robinhood Markets during the 4th quarter valued at $2,367,000. Oppenheimer & Co. Inc. bought a new position in Robinhood Markets in the 4th quarter worth $973,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Robinhood Markets in the 4th quarter worth $273,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.