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

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $97.98, but opened at $95.49. Robinhood Markets shares last traded at $93.63, with a volume of 22,393,292 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Compass Point boosted their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Cantor Fitzgerald raised their target price on Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday. Mizuho lifted their target price on Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, The Goldman Sachs Group increased their price target on Robinhood Markets from $82.00 to $91.00 and gave the stock a "buy" rating in a report on Friday, June 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

Robinhood Markets Stock Performance

The stock's fifty day moving average is $67.91 and its two-hundred day moving average is $52.97. The company has a market cap of $83.35 billion, a price-to-earnings ratio of 53.48, a price-to-earnings-growth ratio of 4.98 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. Robinhood Markets's quarterly revenue was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 EPS. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the sale, the director directly owned 7,863 shares in the company, valued at $506,848.98. The trade was a 98.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the transaction, the insider owned 228,621 shares of the company's stock, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,447,691 shares of company stock worth $176,703,476 in the last quarter. 14.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently modified their holdings of the stock. Whipplewood Advisors LLC increased its position in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after buying an additional 508 shares during the last quarter. Hemington Wealth Management grew its stake in shares of Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares during the period. Wayfinding Financial LLC purchased a new stake in Robinhood Markets in the 1st quarter worth about $30,000. CoreCap Advisors LLC lifted its holdings in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its holdings in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after purchasing an additional 750 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.