Robinhood Markets (NASDAQ:HOOD) Shares Down 2.6% - Here's What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price fell 2.6% on Friday . The company traded as low as $82.31 and last traded at $82.33. 9,891,837 shares were traded during trading, a decline of 64% from the average session volume of 27,855,549 shares. The stock had previously closed at $84.52.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Citigroup lowered their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. The Goldman Sachs Group increased their target price on shares of Robinhood Markets from $81.00 to $82.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. JMP Securities restated a "market outperform" rating and issued a $70.00 price target on shares of Robinhood Markets in a research report on Thursday, May 1st. Barclays reduced their price objective 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. Finally, Redburn Atlantic reiterated a "sell" rating and issued a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $61.76.

Robinhood Markets Stock Performance

The company has a market capitalization of $74.04 billion, a PE ratio of 47.42, a price-to-earnings-growth ratio of 4.88 and a beta of 2.25. The firm's 50-day simple moving average is $63.01 and its 200 day simple moving average is $51.16.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS 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 during the quarter, compared to analyst estimates of $917.12 million. During the same quarter last year, the business earned $0.18 EPS. The firm's revenue for the quarter was up 50.0% on a year-over-year basis. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets 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 owns 7,863 shares in the company, valued at approximately $324,270.12. This represents a 96.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $77.82, for a total value of $456,336.48. Following the transaction, the chief technology officer now directly owns 14,772 shares of the company's stock, valued at $1,149,557.04. The trade was a 28.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,380,434 shares of company stock valued at $131,340,572 in the last 90 days. 14.47% of the stock is currently owned by insiders.

Institutional Trading of Robinhood Markets

A number of large investors have recently made changes to their positions in the stock. MetLife Investment Management LLC raised its stake in Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after purchasing an additional 171 shares during the last quarter. Cigna Investments Inc. New grew its holdings in shares of Robinhood Markets by 2.7% during the first quarter. Cigna Investments Inc. New now owns 6,730 shares of the company's stock worth $280,000 after buying an additional 174 shares in the last quarter. Hemington Wealth Management raised its position in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after buying an additional 218 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after buying an additional 233 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in Robinhood Markets by 4.0% during the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after acquiring an additional 265 shares during the last quarter. Institutional investors and hedge funds 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.

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