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

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price gapped up prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of research reports. Raymond James initiated coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating for the company. Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price target for the company. Morgan Stanley increased their price target on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Finally, The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.29.

Robinhood Markets Trading Up 8.6 %

The stock has a market capitalization of $42.65 billion, a P/E ratio of 30.68, a P/E/G ratio of 1.05 and a beta of 2.14. The firm’s fifty day moving average is $49.04 and its 200-day moving average is $37.41.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $40.45, for a total value of $4,045,000.00. Following the completion of the sale, the insider now owns 731,642 shares in the company, valued at approximately $29,594,918.90. This trade represents a 12.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Insiders sold 2,679,251 shares of company stock valued at $130,979,560 in the last ninety days. Insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC increased its position in Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock valued at $440,000 after acquiring an additional 171 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its position in Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after acquiring an additional 233 shares in the last quarter. First Horizon Advisors Inc. increased its position in Robinhood Markets by 7.8% in the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock valued at $142,000 after acquiring an additional 277 shares in the last quarter. Commerce Bank increased its position in Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after acquiring an additional 423 shares in the last quarter. Finally, Spire Wealth Management grew its position in shares of Robinhood Markets by 104.6% during the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after buying an additional 549 shares during the period. Institutional investors and hedge funds 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.