Robinhood Markets (NASDAQ:HOOD) Shares Down 1.3% - What's Next?

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

Analyst Ratings Changes

HOOD has been the topic of several analyst reports. Cantor Fitzgerald lowered their target price on Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Citigroup lowered their price target on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Finally, Redburn Atlantic reiterated a "sell" rating and issued a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $58.00.

Robinhood Markets Trading Up 2.1%

The company has a market capitalization of $74.84 billion, a P/E ratio of 48.02, a P/E/G ratio of 4.88 and a beta of 2.25. The company's fifty day moving average is $63.01 and its 200 day moving average is $51.16.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted 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). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The company had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. During the same quarter last year, the business posted $0.18 EPS. The business's quarterly revenue was up 50.0% compared to the same quarter last year. Equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 223,072 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $41.24, for a total transaction of $9,199,489.28. Following the sale, the director now directly owns 7,863 shares of the company's stock, valued at $324,270.12. This trade represents a 96.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,380,434 shares of company stock valued at $131,340,572 over the last ninety days. Company insiders own 14.47% of the company's stock.

Institutional Trading of Robinhood Markets

Several hedge funds have recently made changes to their positions in HOOD. Whipplewood Advisors LLC lifted its position in shares of Robinhood Markets by 564.4% during the first 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 grew its stake in shares of 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 acquiring an additional 218 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Robinhood Markets during the 1st quarter worth about $30,000. CoreCap Advisors LLC raised its holdings in shares of 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 during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its stake 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 worth $32,000 after purchasing an additional 750 shares during the period. 93.27% of the stock is currently 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.