Robinhood Markets (NASDAQ:HOOD) Shares Gap Up to $17.90

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $17.90, but opened at $18.96. Robinhood Markets shares last traded at $19.69, with a volume of 14,637,393 shares.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. JMP Securities restated a "market outperform" rating and set a $30.00 target price on shares of Robinhood Markets in a research note on Thursday. KeyCorp lifted their price objective on Robinhood Markets from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $12.00 to $16.00 and gave the company a "hold" rating in a research note on Tuesday, March 19th. Bank of America upgraded shares of Robinhood Markets from an "underperform" rating to a "buy" rating and lifted their price target for the stock from $14.00 to $24.00 in a research note on Friday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Robinhood Markets in a research note on Monday, May 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.75.

Robinhood Markets Price Performance

The company has a fifty day moving average price of $18.01 and a 200 day moving average price of $13.80. The company has a market capitalization of $17.57 billion, a P/E ratio of 133.93 and a beta of 1.74.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.13. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The business had revenue of $618.00 million during the quarter, compared to analyst estimates of $552.74 million. During the same quarter in the previous year, the firm posted ($0.57) EPS. The business's revenue for the quarter was up 40.1% compared to the same quarter last year. On average, equities research analysts predict that Robinhood Markets, Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 16,667 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $18.27, for a total value of $304,506.09. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Robinhood Markets news, insider Steven M. Quirk sold 60,895 shares of the business's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $14.43, for a total transaction of $878,714.85. Following the completion of the transaction, the insider now owns 350,769 shares in the company, valued at approximately $5,061,596.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 16,667 shares of the firm's stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $18.27, for a total value of $304,506.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,577,873 shares of company stock worth $41,719,157. Insiders own 20.81% of the company's stock.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently bought and sold shares of HOOD. Norges Bank acquired a new stake in shares of Robinhood Markets in the 4th quarter worth approximately $84,165,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Robinhood Markets by 9.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company's stock valued at $372,081,000 after purchasing an additional 2,517,012 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its stake in Robinhood Markets by 9.6% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company's stock valued at $360,514,000 after purchasing an additional 2,486,986 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Robinhood Markets by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company's stock valued at $561,732,000 after purchasing an additional 2,459,702 shares during the period. Finally, ARK Investment Management LLC raised its stake in shares of Robinhood Markets by 6.4% in the 4th quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company's stock worth $445,087,000 after buying an additional 2,101,325 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Company Profile

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.