Robinhood Markets (NASDAQ:HOOD) Trading Down 3.6% – Time to Sell?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) were down 3.6% on Tuesday . The company traded as low as $97.90 and last traded at $100.32. Approximately 15,808,877 shares were traded during trading, a decline of 62% from the average daily volume of 41,208,266 shares. The stock had previously closed at $104.03.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HOOD. Citigroup raised their price target on Robinhood Markets from $100.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Redburn Atlantic restated a “sell” rating and set a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. JMP Securities lifted their target price on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Mizuho increased their price target on shares of Robinhood Markets from $99.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, The Goldman Sachs Group boosted their price objective on Robinhood Markets from $91.00 to $104.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus price target of $100.31.

Robinhood Markets Stock Down 3.3%

The firm has a market capitalization of $89.40 billion, a P/E ratio of 51.27, a PEG ratio of 3.81 and a beta of 2.36. The firm has a 50 day moving average of $102.25 and a 200-day moving average of $70.27.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million during the quarter, compared to analysts’ expectations of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company’s quarterly revenue was up 45.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 EPS. As a group, research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the sale, the insider directly owned 591,887 shares in the company, valued at $59,170,943.39. This represents a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,688,606 shares of company stock worth $561,670,429. 19.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. grew its holdings in shares of Robinhood Markets by 120.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after purchasing an additional 148 shares during the last quarter. Smithfield Trust Co acquired a new stake in shares of Robinhood Markets during the 2nd quarter valued at $29,000. Twin Peaks Wealth Advisors LLC bought a new stake in Robinhood Markets during the 2nd quarter worth $34,000. V Square Quantitative Management LLC acquired a new position in Robinhood Markets in the 2nd quarter worth about $36,000. Finally, LGT Financial Advisors LLC bought a new position in Robinhood Markets in the second quarter valued at about $37,000. Institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

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.