Robinhood Markets (NASDAQ:HOOD) Shares Gap Down - Time to Sell?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HOOD shares. KeyCorp lifted their price target on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. The Goldman Sachs Group upgraded Robinhood Markets from a "neutral" rating to a "buy" rating and boosted their target price for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Citigroup increased their price target on Robinhood Markets from $19.00 to $23.00 and gave the stock a "neutral" rating in a research note on Friday, September 27th. Needham & Company LLC reissued a "buy" rating and issued a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an "underweight" rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $39.20.

Robinhood Markets Stock Performance

The stock has a market capitalization of $33.88 billion, a PE ratio of 64.97, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09. The business's 50-day moving average price is $33.11 and its 200 day moving average price is $25.62.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted 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). The business had revenue of $637.00 million for the quarter, compared to analysts' expectations of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. Robinhood Markets's quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 0.8 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $23.42, for a total value of $545,522.06. Following the transaction, the insider now owns 1,070,000 shares of the company's stock, valued at $25,059,400. This represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $22.88, for a total value of $5,720,000.00. The disclosure for this sale can be found here. Insiders sold a total of 6,037,689 shares of company stock worth $177,092,487 over the last three months. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

Several hedge funds and other institutional investors have recently bought and sold shares of HOOD. FMR LLC lifted its holdings in shares of Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company's stock worth $330,914,000 after acquiring an additional 3,368,118 shares during the last quarter. State Street Corp lifted its stake in Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company's stock worth $317,536,000 after purchasing an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC lifted its stake in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company's stock worth $271,708,000 after purchasing an additional 1,895,427 shares during the last quarter. Renaissance Technologies LLC boosted its position in Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company's stock valued at $173,770,000 after buying an additional 2,094,800 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Robinhood Markets by 33.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company's stock valued at $107,298,000 after buying an additional 1,137,677 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

About Robinhood Markets

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.