Robinhood Markets (NASDAQ:HOOD) Shares Gap Down to $22.89

Robinhood Markets, Inc. (NASDAQ:HOODGet Free Report)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $22.89, but opened at $22.08. Robinhood Markets shares last traded at $22.09, with a volume of 1,791,356 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised their price target on Robinhood Markets from $19.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, June 20th. JMP Securities reissued a “market outperform” rating and set a $30.00 price target on shares of Robinhood Markets in a report on Friday, June 7th. KeyCorp lifted their target price on Robinhood Markets from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Sanford C. Bernstein started coverage on Robinhood Markets in a report on Thursday, March 14th. They issued an “outperform” rating and a $30.00 target price on the stock. Finally, Mizuho lifted their target price on Robinhood Markets from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has a consensus rating of “Hold” and a consensus price target of $20.77.

Get Our Latest Report on Robinhood Markets

Robinhood Markets Price Performance

The company has a market cap of $19.93 billion, a PE ratio of 151.20 and a beta of 1.84. The company has a 50-day moving average of $20.61 and a 200 day moving average of $16.83.

Robinhood Markets (NASDAQ:HOODGet Free Report) last announced its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.13. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The business had revenue of $618.00 million during the quarter, compared to analyst estimates of $552.74 million. During the same quarter in the previous year, the business earned ($0.57) earnings per share. The company’s revenue for the quarter was up 40.1% compared to the same quarter last year. Equities research analysts expect that Robinhood Markets, Inc. will post 0.56 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 153,180 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $16.63, for a total transaction of $2,547,383.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Baiju Bhatt sold 153,180 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $16.63, for a total value of $2,547,383.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $17.83, for a total value of $222,875.00. Following the completion of the sale, the insider now owns 854,995 shares of the company’s stock, valued at approximately $15,244,560.85. The disclosure for this sale can be found here. Insiders sold 1,231,733 shares of company stock worth $23,852,641 over the last 90 days. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Robinhood Markets in the first quarter valued at approximately $34,000. Spire Wealth Management purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $26,000. PNC Financial Services Group Inc. boosted its holdings in shares of Robinhood Markets by 46.5% in 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 period. GAMMA Investing LLC boosted its holdings in shares of Robinhood Markets by 44.9% in the second quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after purchasing an additional 710 shares during the period. Finally, SageView Advisory Group LLC bought a new position in Robinhood Markets in the first quarter worth approximately $84,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

(Get Free Report)

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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