Robinhood Markets (NASDAQ:HOOD) Shares Gap Up Following Strong Earnings

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $55.91, but opened at $62.09. Robinhood Markets shares last traded at $63.48, with a volume of 27,765,770 shares.

The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%.

Analyst Ratings Changes

Several research firms have recently issued reports on HOOD. Barclays boosted their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an "overweight" rating in a research note on Thursday. JMP Securities upped their price target on Robinhood Markets from $60.00 to $77.00 and gave the company a "market outperform" rating in a report on Thursday. Citigroup upped their price objective on Robinhood Markets from $45.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday. JPMorgan Chase & Co. upped 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. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $58.07.

Insider Buying and Selling at Robinhood Markets

In other news, insider Steven M. Quirk sold 19,861 shares of the business's stock in a transaction that occurred on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the sale, the insider now directly owns 395,166 shares in the company, valued at $14,834,531.64. The trade was a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Baiju Bhatt sold 90,866 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $55.34, for a total value of $5,028,524.44. Following the sale, the director now owns 5,042 shares of the company's stock, valued at $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. Over the last ninety days, insiders sold 3,948,427 shares of company stock valued at $165,005,244. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently bought and sold shares of the company. CWM LLC increased its holdings in shares of Robinhood Markets by 66.9% in the 3rd quarter. CWM LLC now owns 38,746 shares of the company's stock valued at $907,000 after acquiring an additional 15,524 shares during the last quarter. Creative Planning lifted its holdings in shares of Robinhood Markets by 34.6% in the 3rd quarter. Creative Planning now owns 35,384 shares of the company's stock valued at $829,000 after buying an additional 9,094 shares during the period. Vontobel Holding Ltd. lifted its holdings in shares of Robinhood Markets by 32.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 28,125 shares of the company's stock valued at $659,000 after buying an additional 6,872 shares during the period. Blue Trust Inc. lifted its holdings in shares of Robinhood Markets by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 22,938 shares of the company's stock valued at $521,000 after buying an additional 14,849 shares during the period. Finally, Raymond James & Associates raised its holdings in Robinhood Markets by 76.6% during the third quarter. Raymond James & Associates now owns 99,278 shares of the company's stock worth $2,325,000 after purchasing an additional 43,075 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Up 2.3 %

The firm has a fifty day moving average of $45.45 and a 200-day moving average of $32.52. The stock has a market capitalization of $57.71 billion, a price-to-earnings ratio of 110.65, a PEG ratio of 0.73 and a beta of 2.13.

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.