Robinhood Markets (NASDAQ:HOOD) Shares Gap Up – Should You Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price gapped up prior to trading on Monday . The stock had previously closed at $49.45, but opened at $50.52. Robinhood Markets shares last traded at $49.67, with a volume of 8,536,381 shares traded.

Analyst Ratings Changes

A number of research firms have commented on HOOD. Deutsche Bank Aktiengesellschaft decreased their price target on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Wolfe Research cut shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. KeyCorp lowered their price objective on shares of Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Needham & Company LLC decreased their price target on Robinhood Markets from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Finally, Mizuho lifted their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.88.

Robinhood Markets Trading Down 2.7 %

The stock’s 50 day moving average price is $43.49 and its two-hundred day moving average price is $41.00. The firm has a market capitalization of $42.60 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 522,180 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the sale, the director now directly owns 5,042 shares of the company’s stock, valued at $316,133.40. This trade represents a 99.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the transaction, the chief technology officer now directly owns 17,559 shares of the company’s stock, valued at approximately $821,936.79. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,234,584 shares of company stock valued at $109,755,759. Insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HOOD. Whipplewood Advisors LLC lifted its position in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after buying an additional 508 shares during the period. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets in the fourth quarter valued at approximately $26,000. CoreCap Advisors LLC increased its position in 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 boosted its holdings in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after purchasing an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at $34,000. 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.