Robinhood Markets (NASDAQ:HOOD) Shares Gap Down – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD) gapped down prior to trading on Tuesday . The stock had previously closed at $42.02, but opened at $40.80. Robinhood Markets shares last traded at $39.68, with a volume of 5,828,533 shares.

Wall Street Analyst Weigh In

Several research analysts recently commented on HOOD shares. Morgan Stanley lifted their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Cantor Fitzgerald assumed coverage on shares of Robinhood Markets in a research report on Thursday, March 6th. They set an “overweight” rating and a $69.00 price objective on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. KeyCorp boosted their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Mizuho boosted their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.29.

Robinhood Markets Trading Up 6.7 %

The company has a market cap of $37.90 billion, a P/E ratio of 27.26, a PEG ratio of 1.05 and a beta of 2.14. The stock’s 50 day moving average is $48.90 and its 200-day moving average is $36.94.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $37.92, for a total transaction of $222,817.92. Following the completion of the sale, the chief technology officer now owns 11,752 shares of the company’s stock, valued at $445,635.84. This represents a 33.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Baiju Bhatt sold 522,180 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the sale, the director now directly owns 5,042 shares of the company’s stock, valued at $316,133.40. The trade was a 99.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,985,127 shares of company stock worth $142,455,378. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kilter Group LLC purchased a new stake in Robinhood Markets in the 4th quarter worth approximately $240,000. Siemens Fonds Invest GmbH purchased a new stake in Robinhood Markets in the 4th quarter worth approximately $217,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Robinhood Markets in the 4th quarter worth approximately $4,886,000. Employees Retirement System of Texas purchased a new stake in Robinhood Markets in the 4th quarter worth approximately $1,609,000. Finally, Windmill Hill Asset Management Ltd purchased a new stake in Robinhood Markets in the 4th quarter worth approximately $493,000. 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.