Robinhood Markets (NASDAQ:HOOD) Shares Gap Up - Still a Buy?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $36.36, but opened at $38.99. Robinhood Markets shares last traded at $38.23, with a volume of 13,105,050 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HOOD. Barclays upped their price objective on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods lifted their target price on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a "market perform" rating in a research note on Tuesday, February 18th. Piper Sandler lifted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Citigroup lifted their price target on shares of Robinhood Markets from $45.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $61.31.

Robinhood Markets Stock Performance

The firm has a market cap of $31.89 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The firm has a 50-day moving average price of $48.93 and a two-hundred day moving average price of $36.26.

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Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the sale, the chief technology officer now owns 17,559 shares of the company's stock, valued at $821,936.79. This trade represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,985,127 shares of company stock worth $142,455,378 in the last ninety days. Insiders own 19.95% of the company's stock.

Institutional Trading of Robinhood Markets

Several institutional investors have recently modified their holdings of HOOD. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at $26,000. True Wealth Design LLC acquired a new stake in Robinhood Markets in the 3rd quarter worth $30,000. CoreCap Advisors LLC increased its position in shares of Robinhood Markets by 191.6% during 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 during the period. Creative Financial Designs Inc. ADV raised its position in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after purchasing an additional 750 shares in the last quarter. Finally, Colonial Trust Co SC acquired a new stake in Robinhood Markets in the 4th quarter valued at $34,000. Institutional investors and hedge funds 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.

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