Robinhood Markets (NASDAQ:HOOD) Shares Gap Up – What’s Next?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) gapped up prior to trading on Thursday . The stock had previously closed at $48.85, but opened at $51.76. Robinhood Markets shares last traded at $49.62, with a volume of 9,672,414 shares traded.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Barclays boosted their price objective on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. KeyCorp boosted their price objective on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Citigroup boosted their price objective on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.53.

Robinhood Markets Price Performance

The stock has a market capitalization of $44.29 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13. The company has a 50 day simple moving average of $48.34 and a 200-day simple moving average of $34.88.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, Director Meyer Malka sold 1,535,681 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the sale, the director now directly owns 4,974,238 shares in the company, valued at approximately $199,516,686.18. The trade was a 23.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,643,879 shares of company stock worth $207,663,007. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. Creative Planning grew its position in Robinhood Markets by 34.6% during the third quarter. Creative Planning now owns 35,384 shares of the company’s stock worth $829,000 after buying an additional 9,094 shares in the last quarter. Raymond James & Associates grew its position in Robinhood Markets by 76.6% during the third quarter. Raymond James & Associates now owns 99,278 shares of the company’s stock worth $2,325,000 after buying an additional 43,075 shares in the last quarter. International Assets Investment Management LLC grew its position in Robinhood Markets by 301.5% during the third quarter. International Assets Investment Management LLC now owns 7,026 shares of the company’s stock worth $165,000 after buying an additional 5,276 shares in the last quarter. HM Payson & Co. grew 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 buying an additional 410 shares in the last quarter. Finally, US Bancorp DE grew its position in Robinhood Markets by 94.0% during the third quarter. US Bancorp DE now owns 27,751 shares of the company’s stock worth $650,000 after buying an additional 13,448 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.