Robinhood Markets (NASDAQ:HOOD) Shares Gap Up to $22.14

Robinhood Markets, Inc. (NASDAQ:HOOD) shares gapped up prior to trading on Wednesday . The stock had previously closed at $22.14, but opened at $22.68. Robinhood Markets shares last traded at $22.88, with a volume of 5,894,476 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HOOD. Sanford C. Bernstein began coverage on Robinhood Markets in a research note on Thursday, March 14th. They set an “outperform” rating and a $30.00 price target on the stock. KeyCorp upped their price objective on Robinhood Markets from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. The Goldman Sachs Group upped their price objective on Robinhood Markets from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Wolfe Research upgraded Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective for the company in a report on Wednesday. Finally, Piper Sandler upped their price objective on Robinhood Markets from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.77.

Robinhood Markets Stock Up 0.9 %

The firm has a fifty day simple moving average of $19.74 and a 200-day simple moving average of $16.26. The company has a market capitalization of $19.64 billion, a P/E ratio of 150.53 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.13. The company had revenue of $618.00 million during the quarter, compared to the consensus estimate of $552.74 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The company’s revenue for the quarter was up 40.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.57) earnings per share. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.83, for a total transaction of $222,875.00. Following the completion of the transaction, the insider now directly owns 854,995 shares in the company, valued at $15,244,560.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.83, for a total transaction of $222,875.00. Following the completion of the transaction, the insider now directly owns 854,995 shares in the company, valued at $15,244,560.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $18.67, for a total value of $4,667,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,486,733 shares of company stock worth $28,618,091. 19.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Angeles Wealth Management LLC boosted its position in Robinhood Markets by 5.3% during the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock valued at $246,000 after purchasing an additional 610 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares during the last quarter. Commerce Bank boosted its position in Robinhood Markets by 7.9% during the fourth quarter. Commerce Bank now owns 12,459 shares of the company’s stock valued at $159,000 after purchasing an additional 917 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Robinhood Markets by 4.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock valued at $310,000 after purchasing an additional 1,060 shares during the last quarter. Finally, Whittier Trust Co. boosted its position in Robinhood Markets by 25.8% during the first quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock valued at $117,000 after purchasing an additional 1,194 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.