Robinhood Markets (NASDAQ:HOOD) Shares Gap Down – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $36.94, but opened at $35.11. Robinhood Markets shares last traded at $36.16, with a volume of 4,003,453 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HOOD. JMP Securities lifted their target price on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Sanford C. Bernstein increased their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target (up from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods increased their price target on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.20.

Robinhood Markets Price Performance

The firm has a market capitalization of $33.88 billion, a price-to-earnings ratio of 64.97, a PEG ratio of 0.76 and a beta of 2.09. The business’s fifty day simple moving average is $33.11 and its 200 day simple moving average is $25.62.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The business’s quarterly revenue was up 36.4% on a year-over-year basis. Equities research analysts expect that Robinhood Markets, Inc. will post 0.8 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 186,514 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82. Following the sale, the director now owns 2,521 shares of the company’s stock, valued at $96,125.73. The trade was a 98.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Meyer Malka sold 3,225,806 shares of Robinhood Markets stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total value of $80,870,956.42. Following the transaction, the director now directly owns 29,357,336 shares of the company’s stock, valued at $735,988,413.52. The trade was a 9.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,037,689 shares of company stock valued at $177,092,487 over the last ninety days. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James & Associates boosted its position in Robinhood Markets by 28.6% during the 2nd quarter. Raymond James & Associates now owns 56,203 shares of the company’s stock valued at $1,276,000 after buying an additional 12,512 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Robinhood Markets by 8.7% in the second quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company’s stock worth $54,749,000 after purchasing an additional 193,585 shares during the last quarter. Atomi Financial Group Inc. increased its holdings in Robinhood Markets by 0.8% during the 2nd quarter. Atomi Financial Group Inc. now owns 448,036 shares of the company’s stock valued at $10,175,000 after purchasing an additional 3,449 shares during the period. Financial Connections Group Inc. bought a new position in Robinhood Markets during the 2nd quarter valued at approximately $159,000. Finally, Whittier Trust Co. lifted its holdings in Robinhood Markets by 39.8% in the 2nd quarter. Whittier Trust Co. now owns 8,145 shares of the company’s stock worth $185,000 after buying an additional 2,317 shares during the period. 93.27% of the stock is currently owned by institutional investors.

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.