Robinhood Markets (NASDAQ:HOOD) Releases Earnings Results, Misses Estimates By $0.17 EPS

Robinhood Markets (NASDAQ:HOODGet Rating) issued its quarterly earnings results on Thursday. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.17), MarketWatch Earnings reports. The firm had revenue of $299.00 million during the quarter, compared to analyst estimates of $357.21 million. Robinhood Markets had a negative return on equity of 112.72% and a negative net margin of 203.09%. The business’s quarterly revenue was down 42.7% on a year-over-year basis.

HOOD stock traded down $0.28 during midday trading on Friday, reaching $9.81. 32,519,273 shares of the company’s stock traded hands, compared to its average volume of 14,602,002. The company has a market cap of $8.51 billion and a price-to-earnings ratio of -0.89. The firm’s fifty day moving average price is $11.91 and its 200-day moving average price is $19.37. Robinhood Markets has a 52 week low of $9.00 and a 52 week high of $85.00.

In other news, insider Baiju Bhatt sold 113,479 shares of the company’s stock in a transaction on Wednesday, February 2nd. The shares were sold at an average price of $14.09, for a total value of $1,598,919.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott D. Sandell sold 2,082 shares of the company’s stock in a transaction on Monday, January 31st. The stock was sold at an average price of $14.22, for a total transaction of $29,606.04. The disclosure for this sale can be found here. Insiders have sold a total of 320,352 shares of company stock valued at $4,324,842 in the last 90 days.

Large investors have recently modified their holdings of the stock. Cetera Investment Advisers purchased a new position in shares of Robinhood Markets in the 4th quarter worth about $183,000. Harbour Investments Inc. boosted its holdings in shares of Robinhood Markets by 1,558.1% in the 4th quarter. Harbour Investments Inc. now owns 14,011 shares of the company’s stock worth $249,000 after buying an additional 13,166 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Robinhood Markets in the 4th quarter worth about $264,000. JustInvest LLC purchased a new position in shares of Robinhood Markets in the 4th quarter worth about $266,000. Finally, NEXT Financial Group Inc boosted its holdings in shares of Robinhood Markets by 187.1% in the 4th quarter. NEXT Financial Group Inc now owns 17,430 shares of the company’s stock worth $309,000 after buying an additional 11,358 shares during the last quarter. 51.54% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on HOOD. Zacks Investment Research downgraded shares of Robinhood Markets from a “buy” rating to a “hold” rating in a research report on Saturday, April 2nd. Rosenblatt Securities dropped their price target on shares of Robinhood Markets from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, January 28th. KeyCorp lowered their price objective on shares of Robinhood Markets from $50.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, January 14th. Wolfe Research lowered their price objective on shares of Robinhood Markets from $15.00 to $10.00 in a research note on Friday. Finally, Piper Sandler lowered their price objective on shares of Robinhood Markets from $13.00 to $11.00 in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Hold” and a consensus price target of $21.15.

About Robinhood Markets (Get Rating)

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron's, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade.

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