Robinhood Markets (NASDAQ:HOOD) Shares Down 1.3% - Here's Why

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) was down 1.3% on Monday . The stock traded as low as $76.60 and last traded at $77.49. Approximately 10,830,782 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 27,605,874 shares. The stock had previously closed at $78.50.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HOOD shares. Cantor Fitzgerald dropped their price objective on Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Barclays lowered their target price on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Mizuho lifted their price objective on Robinhood Markets from $65.00 to $80.00 and gave the company an "outperform" rating in a research note on Tuesday, June 17th. Morgan Stanley lifted their price objective on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. Finally, Citigroup reduced their target price on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $58.00.

Robinhood Markets Price Performance

The business has a 50-day moving average of $59.90 and a 200 day moving average of $50.17. The company has a market capitalization of $67.97 billion, a PE ratio of 43.46, a P/E/G ratio of 4.63 and a beta of 2.25.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The company's revenue was up 50.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 earnings per share. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $74.29, for a total transaction of $31,078,330.02. Following the sale, the director now owns 7,863 shares in the company, valued at approximately $584,142.27. The trade was a 98.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher D. Payne acquired 26,500 shares of the company's stock in a transaction dated Friday, June 13th. The shares were purchased at an average cost of $74.19 per share, for a total transaction of $1,966,035.00. Following the purchase, the director now directly owns 26,500 shares in the company, valued at approximately $1,966,035. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 2,374,570 shares of company stock valued at $130,884,235. 19.95% of the stock is currently owned by insiders.

Institutional Trading of Robinhood Markets

Institutional investors have recently made changes to their positions in the company. Whipplewood Advisors LLC lifted its holdings in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after acquiring an additional 508 shares during the last quarter. Hemington Wealth Management lifted its stake in Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 218 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Robinhood Markets during the first quarter worth $30,000. CoreCap Advisors LLC lifted its stake in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after purchasing an additional 750 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.

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