Robinhood Markets (NASDAQ:HOOD) Stock Price Down 2% – Time to Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price traded down 2% during mid-day trading on Tuesday . The stock traded as low as $75.18 and last traded at $75.20. 7,685,850 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 27,314,640 shares. The stock had previously closed at $76.75.

Analyst Ratings Changes

Several research analysts recently weighed in on HOOD shares. Morgan Stanley boosted their target price on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 13th. Needham & Company LLC reiterated a “buy” rating and set a $71.00 price objective on shares of Robinhood Markets in a research note on Tuesday, May 27th. KeyCorp lowered their price objective on shares of Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Finally, Citigroup lowered their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $58.00.

Robinhood Markets Stock Performance

The firm has a market cap of $65.67 billion, a P/E ratio of 47.28, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25. The stock has a fifty day simple moving average of $57.07 and a 200 day simple moving average of $49.08.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The company had revenue of $927.00 million for the quarter, compared to analysts’ expectations of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Robinhood Markets’s quarterly revenue was up 50.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $43.36, for a total transaction of $253,786.08. Following the transaction, the chief technology officer now directly owns 11,706 shares of the company’s stock, valued at approximately $507,572.16. This trade represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Baiju Bhatt sold 47,023 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $46.37, for a total transaction of $2,180,456.51. Following the transaction, the director now directly owns 5,042 shares in the company, valued at $233,797.54. This trade represents a 90.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,650,974 shares of company stock valued at $142,977,123. 14.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently bought and sold shares of the business. Whipplewood Advisors LLC boosted its holdings in shares of Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after purchasing an additional 508 shares during the last quarter. Hemington Wealth Management increased its stake in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 218 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of Robinhood Markets during the 1st quarter worth $30,000. CoreCap Advisors LLC boosted its position in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after acquiring an additional 550 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its position in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after acquiring an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.