Robinhood Markets (NASDAQ:HOOD) Shares Gap Down - Here's What Happened

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Barclays raised their price target on Robinhood Markets from $54.00 to $76.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Cantor Fitzgerald initiated coverage on Robinhood Markets in a research note on Thursday. They issued an "overweight" rating and a $69.00 price objective on the stock. Keefe, Bruyette & Woods raised their target price on Robinhood Markets from $38.00 to $60.00 and gave the company a "market perform" rating in a research note on Tuesday, February 18th. Finally, Needham & Company LLC raised their target price on Robinhood Markets from $52.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and an average target price of $60.13.

Robinhood Markets Stock Down 0.9 %

The firm has a fifty day moving average of $48.93 and a 200-day moving average of $35.64. The firm has a market cap of $39.33 billion, a P/E ratio of 28.29, a PEG ratio of 1.05 and a beta of 2.14.

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Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its 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 return on equity of 13.53% and a net margin of 47.81%. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the sale, the chief technology officer now owns 17,559 shares of the company's stock, valued at $821,936.79. This trade represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $37.51, for a total value of $11,253,000.00. Following the sale, the insider now directly owns 806,955 shares in the company, valued at approximately $30,268,882.05. This represents a 27.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,171,641 shares of company stock worth $149,567,157. Insiders own 19.95% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets in the 4th quarter valued at approximately $26,000. True Wealth Design LLC acquired a new stake in Robinhood Markets in the 3rd quarter valued at approximately $30,000. CoreCap Advisors LLC raised its position in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in Robinhood Markets by 750.0% in the 4th 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 stake in Robinhood Markets in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds 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.