Robinhood Markets (NASDAQ:HOOD) Shares Gap Up – Here’s What Happened

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) gapped up before the market opened on Monday . The stock had previously closed at $44.36, but opened at $46.40. Robinhood Markets shares last traded at $47.82, with a volume of 8,663,628 shares traded.

Analysts Set New Price Targets

HOOD has been the subject of several analyst reports. Piper Sandler increased their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Cantor Fitzgerald assumed coverage on Robinhood Markets in a research report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their target price on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Citigroup increased their price target on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

Robinhood Markets Trading Down 0.4 %

The firm has a market cap of $42.63 billion, a PE ratio of 30.67, a P/E/G ratio of 1.05 and a beta of 2.14. The business has a fifty day moving average price of $49.35 and a 200 day moving average price of $37.82.

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

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of Robinhood Markets stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $40.45, for a total transaction of $4,045,000.00. Following the completion of the transaction, the insider now owns 731,642 shares in the company, valued at approximately $29,594,918.90. This represents a 12.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,908,632 shares of company stock worth $140,891,991 over the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets during the 4th quarter valued at approximately $26,000. CoreCap Advisors LLC raised its stake in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in shares of Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the period. Colonial Trust Co SC purchased a new position in Robinhood Markets in the 4th quarter valued at $34,000. Finally, Silicon Valley Capital Partners acquired a new position in Robinhood Markets in the 4th quarter valued at $37,000. Hedge funds and other 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.