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

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $44.84, but opened at $43.64. Robinhood Markets shares last traded at $44.38, with a volume of 6,211,063 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HOOD. Needham & Company LLC upped their target price on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. KeyCorp raised their price objective on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Sanford C. Bernstein lifted their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $60.13.

Robinhood Markets Stock Down 6.1 %

The business has a fifty day moving average price of $48.93 and a 200-day moving average price of $35.64. The stock has a market capitalization of $37.29 billion, a P/E ratio of 26.78, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 123,272 shares of Robinhood Markets stock in a transaction on Friday, February 21st. The shares were sold at an average price of $55.80, for a total value of $6,878,577.60. Following the transaction, the insider now owns 298,826 shares in the company, valued at $16,674,490.80. This trade represents a 29.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,165,788 shares of company stock worth $149,293,178 in the last three months. 19.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. New Wave Wealth Advisors LLC bought a new position in Robinhood Markets during the fourth quarter valued at $26,000. True Wealth Design LLC purchased a new stake in shares of Robinhood Markets during the third quarter valued at about $30,000. CoreCap Advisors LLC grew its holdings in Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after buying an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC acquired a new position in shares of Robinhood Markets during the fourth quarter valued at about $34,000. 93.27% of the stock is owned by hedge funds and other 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.