Robinhood Markets (NASDAQ:HOOD) Shares Gap Down - What's Next?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares gapped down before the market opened 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 changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HOOD. Deutsche Bank Aktiengesellschaft decreased their price objective on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. KeyCorp raised their price objective on Robinhood Markets from $57.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $39.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Cantor Fitzgerald began coverage on Robinhood Markets in a report on Thursday, March 6th. They set an "overweight" rating and a $69.00 price objective on the stock. Finally, Keefe, Bruyette & Woods raised their price objective on Robinhood Markets from $38.00 to $60.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $61.29.

Robinhood Markets Price Performance

The company has a 50 day moving average price of $48.86 and a 200-day moving average price of $36.90. The stock has a market capitalization of $37.90 billion, a PE ratio of 27.26, a PEG ratio of 1.05 and a beta of 2.14.

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Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results 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%. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $37.92, for a total value of $222,817.92. Following the completion of the transaction, the chief technology officer now directly owns 11,752 shares of the company's stock, valued at approximately $445,635.84. This represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,985,127 shares of company stock worth $142,455,378 over the last quarter. Corporate insiders own 19.95% of the company's stock.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently modified their holdings of the stock. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets in the 4th quarter worth about $26,000. True Wealth Design LLC purchased a new position in Robinhood Markets in the 3rd quarter worth about $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 worth $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 worth $32,000 after buying an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC purchased a new position in Robinhood Markets in the 4th quarter worth about $34,000. 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.