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

by · The Cerbat Gem

Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $44.08, but opened at $41.86. Robinhood Markets shares last traded at $42.24, with a volume of 12,329,136 shares.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HOOD shares. Morgan Stanley cut shares of Robinhood Markets from an “overweight” rating to an “equal weight” rating and set a $40.00 target price on the stock. in a report on Tuesday, April 8th. Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Needham & Company LLC dropped their price target on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Barclays decreased their target price on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Finally, JMP Securities decreased their price objective on shares of Robinhood Markets from $77.00 to $70.00 and set a “market outperform” rating for the company in a report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $55.06.

Get Our Latest Report on HOOD

Robinhood Markets Trading Up 1.3 %

The firm has a market cap of $36.46 billion, a PE ratio of 26.23, a PEG ratio of 1.05 and a beta of 2.17. The company’s 50 day moving average price is $45.46 and its two-hundred day moving average price is $39.92.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating 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%. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Baiju Bhatt sold 90,866 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $50.67, for a total transaction of $4,604,180.22. Following the completion of the transaction, the director now owns 5,042 shares in the company, valued at $255,478.14. This trade represents a 94.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the sale, the chief technology officer now owns 17,559 shares in the company, valued at $821,936.79. This represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,784,193 shares of company stock worth $137,892,219 in the last three months. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Hedge funds have recently modified their holdings of the company. MetLife Investment Management LLC raised its position in shares of Robinhood Markets by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock valued at $440,000 after buying an additional 171 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its position in Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after acquiring an additional 233 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company’s stock worth $290,000 after acquiring an additional 265 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after purchasing an additional 277 shares during the period. Finally, City State Bank lifted its stake in Robinhood Markets by 94.0% in the first quarter. City State Bank now owns 970 shares of the company’s stock worth $40,000 after purchasing an additional 470 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

About Robinhood Markets

(Get Free Report)

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.

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