Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The company traded as high as $25.87 and last traded at $25.75, with a volume of 6626959 shares. The stock had previously closed at $25.65.
Several analysts have issued reports on the company. Piper Sandler reissued an "overweight" rating and set a $27.00 price target on shares of Robinhood Markets in a report on Tuesday. Needham & Company LLC reiterated a "hold" rating on shares of Robinhood Markets in a research report on Thursday, August 8th. The Goldman Sachs Group raised their price objective on shares of Robinhood Markets from $19.00 to $21.00 and gave the company a "neutral" rating in a research report on Thursday, July 11th. Wolfe Research raised shares of Robinhood Markets from a "peer perform" rating to an "outperform" rating and set a $29.00 target price for the company in a report on Wednesday, June 26th. Finally, Bank of America raised their price target on Robinhood Markets from $28.00 to $32.00 and gave the company a "buy" rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $23.83.
View Our Latest Stock Analysis on Robinhood Markets
The stock's 50 day moving average is $20.81 and its 200-day moving average is $20.50. The company has a market cap of $22.59 billion, a PE ratio of 171.00 and a beta of 1.84.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. The firm had revenue of $682.00 million for the quarter, compared to analysts' expectations of $640.39 million. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. During the same period in the prior year, the company earned $0.03 EPS. The business's revenue was up 40.3% compared to the same quarter last year. On average, analysts anticipate that Robinhood Markets, Inc. will post 0.76 EPS for the current fiscal year.
In related news, CEO Vladimir Tenev sold 250,000 shares of the firm's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business's stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total transaction of $279,625.00. Following the completion of the transaction, the insider now owns 1,057,500 shares in the company, valued at $23,656,275. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the company's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,227,389 shares of company stock worth $24,238,940. 19.95% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Robinhood Markets by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company's stock valued at $1,143,960,000 after buying an additional 1,003,535 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Robinhood Markets by 37.7% in the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company's stock valued at $173,770,000 after purchasing an additional 2,094,800 shares during the period. Dimensional Fund Advisors LP grew its stake in Robinhood Markets by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company's stock worth $92,549,000 after purchasing an additional 112,967 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Robinhood Markets by 8.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company's stock worth $54,749,000 after purchasing an additional 193,585 shares during the period. Finally, Railway Pension Investments Ltd raised its position in Robinhood Markets by 52.6% during the 1st quarter. Railway Pension Investments Ltd now owns 2,393,031 shares of the company's stock valued at $48,172,000 after purchasing an additional 825,307 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.
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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