Robinhood Markets (NASDAQ:HOOD) Shares Gap Down – Should You Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares gapped down prior to trading 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 changing hands.

Analyst Ratings Changes

Several research analysts recently issued reports on HOOD shares. JPMorgan Chase & Co. increased their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. Sanford C. Bernstein increased their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised their target price on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods upped their price target on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday. Finally, JMP Securities raised their price objective on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.20.

Robinhood Markets Trading Up 3.1 %

The business has a 50-day moving average of $32.87 and a 200 day moving average of $25.50. The firm has a market capitalization of $33.66 billion, a PE ratio of 64.54, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the previous year, the company earned ($0.09) EPS. The business’s revenue was up 36.4% compared to the same quarter last year. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 3,225,806 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total value of $80,870,956.42. Following the completion of the transaction, the director now owns 29,357,336 shares in the company, valued at $735,988,413.52. This represents a 9.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.37, for a total value of $279,625.00. Following the sale, the insider now directly owns 1,057,500 shares of the company’s stock, valued at approximately $23,656,275. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,037,689 shares of company stock worth $177,092,487. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC lifted its position in shares of Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after buying an additional 3,368,118 shares during the last quarter. State Street Corp lifted its holdings in Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after purchasing an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC boosted its position in Robinhood Markets by 19.5% during 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 period. Renaissance Technologies LLC increased its stake in shares of Robinhood Markets by 37.7% in the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after purchasing an additional 2,094,800 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Robinhood Markets by 33.0% in 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 purchasing an additional 1,137,677 shares during the period. 93.27% of the stock is owned by 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.