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

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

Analyst Ratings Changes

A number of analysts recently issued reports on HOOD shares. KeyCorp decreased their price objective on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Mizuho raised their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Raymond James initiated coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a "market perform" rating on the stock. Barclays cut their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Finally, Compass Point began 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. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.24.

Robinhood Markets Stock Up 4.2 %

The firm's 50-day simple moving average is $43.08 and its 200-day simple moving average is $41.66. The firm has a market capitalization of $43.02 billion, a PE ratio of 30.95, 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 data on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The company had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The business's revenue for the quarter was up 50.0% compared to the same quarter last year. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $49.27, for a total value of $288,377.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 90,866 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $279,024.28. The trade was a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,334,593 shares of company stock valued at $114,815,021 in the last quarter. Insiders own 19.95% of the company's stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after acquiring an additional 26,107,934 shares in the last quarter. Norges Bank bought a new stake in Robinhood Markets during the 4th quarter valued at about $329,598,000. GQG Partners LLC purchased a new position in Robinhood Markets in the fourth quarter worth about $302,325,000. Artisan Partners Limited Partnership bought a new position in shares of Robinhood Markets in the fourth quarter worth approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Robinhood Markets by 335.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after buying an additional 3,994,745 shares during the last quarter. Hedge funds and other 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.