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

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HOOD. Citigroup boosted their target price on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods lifted their price target on shares of Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Morgan Stanley upped their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Cantor Fitzgerald assumed 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, JMP Securities lifted their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $61.31.

Robinhood Markets Price Performance

The firm has a market capitalization of $35.05 billion, a PE ratio of 25.15, a P/E/G ratio of 1.05 and a beta of 2.14. The company has a 50-day moving average price of $48.87 and a 200-day moving average price of $36.76.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $37.92, for a total transaction of $222,817.92. Following the transaction, the chief technology officer now directly owns 11,752 shares in the company, valued at approximately $445,635.84. This represents a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,985,127 shares of company stock worth $142,455,378. Insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets in the 4th quarter valued at $26,000. True Wealth Design LLC acquired a new stake in Robinhood Markets in the 3rd quarter valued at $30,000. CoreCap Advisors LLC raised its position in Robinhood Markets by 191.6% in 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 period. Creative Financial Designs Inc. ADV lifted its stake in shares of Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares in the last quarter. Finally, Colonial Trust Co SC purchased a new stake in shares of Robinhood Markets in the fourth quarter worth about $34,000. 93.27% of the stock is owned by institutional investors and hedge funds.

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.