Robinhood Markets (NASDAQ:HOOD) Shares Down 0.2% – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD) dropped 0.2% during mid-day trading on Thursday . The stock traded as low as $38.80 and last traded at $39.50. Approximately 2,954,574 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 17,011,840 shares. The stock had previously closed at $39.58.

Wall Street Analyst Weigh In

HOOD has been the subject of a number of recent research reports. KeyCorp raised their price target on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Piper Sandler lifted their price target on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Citigroup upped their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.20.

Robinhood Markets Price Performance

The stock has a market capitalization of $35.56 billion, a price-to-earnings ratio of 68.19, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09. The stock has a 50 day moving average price of $33.83 and a 200-day moving average price of $26.00.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) EPS. As a group, research analysts forecast that Robinhood Markets, Inc. will post 0.8 earnings per share for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, Director Meyer Malka sold 1,535,681 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the completion of the sale, the director now owns 4,974,238 shares of the company’s stock, valued at $199,516,686.18. This trade represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total value of $279,625.00. Following the transaction, the insider now owns 1,057,500 shares of the company’s stock, valued at approximately $23,656,275. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,043,565 shares of company stock valued at $177,315,305 in the last ninety days. 19.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HOOD. FMR LLC increased its position in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares in the last quarter. State Street Corp grew its position in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after acquiring an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Robinhood Markets by 19.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after acquiring an additional 1,895,427 shares during the period. Renaissance Technologies LLC raised its position in Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after purchasing an additional 2,094,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Robinhood Markets by 33.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock worth $107,298,000 after purchasing an additional 1,137,677 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other 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.