Robinhood Markets (NASDAQ:HOOD) Trading Down 0% – Here’s Why

Robinhood Markets, Inc. (NASDAQ:HOOD) shares fell 0% on Friday . The stock traded as low as $40.08 and last traded at $40.51. 15,458,340 shares traded hands during trading, a decline of 34% from the average session volume of 23,596,731 shares. The stock had previously closed at $40.51.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HOOD. Deutsche Bank Aktiengesellschaft lowered their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Needham & Company LLC dropped their price target on Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Raymond James began coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating for the company. Piper Sandler lifted their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a research report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 target price for the company. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.06.

Robinhood Markets Price Performance

The firm has a 50-day simple moving average of $46.45 and a 200 day simple moving average of $39.50. The company has a market capitalization of $38.68 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating 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%. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 90,866 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $45.27, for a total value of $4,113,503.82. Following the sale, the director now owns 5,042 shares in the company, valued at approximately $228,251.34. This trade represents a 94.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $34.51, for a total value of $201,987.03. Following the completion of the sale, the chief technology officer now owns 5,853 shares in the company, valued at approximately $201,987.03. This represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,651,987 shares of company stock worth $132,806,233. 19.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank grew its holdings in Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after acquiring an additional 16,219 shares during the period. IFP Advisors Inc boosted its position in shares of Robinhood Markets by 601.1% during the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock valued at $164,000 after purchasing an additional 3,769 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Robinhood Markets in the 4th quarter worth approximately $634,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after purchasing an additional 138,267 shares in the last quarter. Finally, Atomi Financial Group Inc. lifted its stake in Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after purchasing an additional 92,613 shares during the last quarter. 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.