Robinhood Markets (NASDAQ:HOOD) Shares Gap Up - Here's What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'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 changing hands.

Analyst Ratings Changes

Several research analysts have weighed in on HOOD shares. Compass Point started coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target on the stock. Mizuho raised their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Morgan Stanley cut shares of Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 price objective on the stock. in a research note on Tuesday, April 8th. Needham & Company LLC cut their target price on shares of Robinhood Markets from $62.00 to $58.00 and set a "buy" rating on the stock in a research report on Thursday. 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. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $53.24.

Robinhood Markets Price Performance

The firm has a fifty day simple moving average of $43.10 and a 200-day simple moving average of $41.27. The firm has a market cap of $41.28 billion, a P/E ratio of 29.69, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The firm's revenue was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 EPS. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In related news, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction on Thursday, February 13th. The stock was 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 in the company, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. Insiders have sold 2,334,593 shares of company stock worth $114,815,021 over the last 90 days. 19.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Robinhood Markets

Large investors have recently bought and sold shares of the company. Whipplewood Advisors LLC increased its position in Robinhood Markets by 564.4% in 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 last quarter. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets in the fourth quarter valued at $26,000. Wayfinding Financial LLC purchased a new position in shares of Robinhood Markets in the first quarter valued at $30,000. CoreCap Advisors LLC grew its position in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its position in shares of Robinhood Markets by 750.0% in the fourth 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 in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.