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

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price gapped up before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HOOD. Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price target for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Citigroup raised their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Raymond James assumed coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating on the stock. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $59.53.

Robinhood Markets Stock Performance

The business has a 50-day simple moving average of $47.87 and a two-hundred day simple moving average of $34.56. The company has a market capitalization of $44.42 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last announced 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 return on equity of 13.53% and a net margin of 47.81%. Research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 186,514 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total value of $7,111,778.82. Following the completion of the transaction, the director now owns 2,521 shares of the company’s stock, valued at approximately $96,125.73. This represents a 98.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Meyer Malka sold 1,535,681 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value 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 disclosure for this sale can be found here. Insiders sold 4,643,879 shares of company stock valued at $207,663,007 over the last 90 days. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after buying an additional 26,107,934 shares during the last quarter. Norges Bank bought a new position in Robinhood Markets in the 4th quarter worth approximately $329,598,000. GQG Partners LLC acquired a new position in Robinhood Markets during the 4th quarter worth $302,325,000. Artisan Partners Limited Partnership acquired a new stake in Robinhood Markets in the fourth quarter worth about $152,949,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Robinhood Markets by 335.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock worth $193,202,000 after purchasing an additional 3,994,745 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.