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

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $74.88, but opened at $72.06. Robinhood Markets shares last traded at $69.62, with a volume of 19,317,481 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on HOOD shares. Needham & Company LLC restated a "buy" rating and issued a $71.00 price objective on shares of Robinhood Markets in a report on Tuesday, May 27th. Barclays decreased their price objective on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Piper Sandler raised their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. KeyCorp decreased their price objective on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $56.17.

Robinhood Markets Stock Performance

The business has a 50-day moving average of $52.58 and a 200-day moving average of $47.54. The stock has a market capitalization of $62.81 billion, a price-to-earnings ratio of 45.37, a P/E/G ratio of 1.05 and a beta of 2.25.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business's revenue was up 50.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. Equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Baiju Bhatt sold 223,528 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $43.21, for a total transaction of $9,658,644.88. Following the completion of the sale, the director now owns 5,042 shares in the company, valued at $217,864.82. The trade was a 97.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,226,771 shares of company stock worth $111,467,774. 14.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors have recently added to or reduced their stakes in HOOD. Vanguard Group Inc. lifted its stake in Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after buying an additional 5,874,701 shares during the last quarter. FMR LLC lifted its stake in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after buying an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC lifted its stake in Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after buying an additional 273,860 shares during the last quarter. Geode Capital Management LLC lifted its stake in Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after buying an additional 555,299 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after buying an additional 3,091,514 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

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.

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