Robinhood Markets (NASDAQ:HOOD) Shares Down 0.8% – Should You Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price fell 0.8% during mid-day trading on Friday . The stock traded as low as $41.50 and last traded at $43.33. 11,885,875 shares were traded during trading, a decline of 43% from the average session volume of 20,915,489 shares. The stock had previously closed at $43.66.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HOOD. Cantor Fitzgerald started coverage on Robinhood Markets in a research report on Thursday, March 6th. They set an “overweight” rating and a $69.00 target price for the company. Wolfe Research lowered Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Citigroup upped their price target on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. JMP Securities upped their target price on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

Robinhood Markets Stock Up 1.6 %

The company has a market cap of $39.28 billion, a PE ratio of 28.25, a P/E/G ratio of 1.05 and a beta of 2.14. The firm’s fifty day simple moving average is $49.04 and its 200-day simple moving average is $37.28.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data 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, analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the transaction, the insider now owns 806,955 shares of the company’s stock, valued at approximately $30,268,882.05. This trade represents a 27.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 522,180 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. The trade was a 99.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,979,251 shares of company stock worth $142,232,560 in the last ninety days. 19.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in Robinhood Markets by 85.3% during the third quarter. Victory Capital Management Inc. now owns 117,383 shares of the company’s stock valued at $2,749,000 after purchasing an additional 54,046 shares in the last quarter. Natixis Advisors LLC lifted its stake in shares of Robinhood Markets by 44.0% in the third quarter. Natixis Advisors LLC now owns 33,980 shares of the company’s stock worth $796,000 after buying an additional 10,376 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Robinhood Markets by 1,008.4% in the third quarter. Quest Partners LLC now owns 15,086 shares of the company’s stock worth $353,000 after buying an additional 13,725 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Robinhood Markets during the 3rd quarter valued at $365,000. Finally, Commerce Bank raised its stake in Robinhood Markets by 3.3% during the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after purchasing an additional 423 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.