Robinhood Markets (NASDAQ:HOOD) Trading Down 6.7% – Time to Sell?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) fell 6.7% during mid-day trading on Tuesday . The company traded as low as $39.18 and last traded at $39.22. 16,850,263 shares traded hands during trading, a decline of 18% from the average session volume of 20,517,385 shares. The stock had previously closed at $42.02.

Analyst Upgrades and Downgrades

HOOD has been the subject of several analyst reports. KeyCorp increased their price objective on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price objective for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Mizuho upped their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Morgan Stanley increased their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Needham & Company LLC boosted their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $61.31.

Robinhood Markets Stock Performance

The company has a market cap of $35.44 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.05 and a beta of 2.14. The stock has a 50-day moving average of $48.87 and a two-hundred day moving average 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 analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total value of $11,253,000.00. Following the transaction, the insider now directly owns 806,955 shares of the company’s stock, valued at approximately $30,268,882.05. The trade was a 27.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,985,127 shares of company stock worth $142,455,378. 19.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its position in Robinhood Markets by 85.3% in the third quarter. Victory Capital Management Inc. now owns 117,383 shares of the company’s stock worth $2,749,000 after buying an additional 54,046 shares during the last quarter. CIBC Asset Management Inc increased its position in Robinhood Markets by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 21,731 shares of the company’s stock valued at $509,000 after purchasing an additional 724 shares during the period. Natixis Advisors LLC increased its holdings in Robinhood Markets by 44.0% during the third quarter. Natixis Advisors LLC now owns 33,980 shares of the company’s stock valued at $796,000 after buying an additional 10,376 shares during the period. Quest Partners LLC boosted its position in Robinhood Markets by 1,008.4% during the 3rd quarter. Quest Partners LLC now owns 15,086 shares of the company’s stock valued at $353,000 after acquiring an additional 13,725 shares in the last quarter. Finally, GLOBALT Investments LLC GA grew its stake in Robinhood Markets by 2.3% in the third quarter. GLOBALT Investments LLC GA now owns 56,162 shares of the company’s stock valued at $1,315,000 after purchasing an additional 1,262 shares during the last quarter. 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.