Robinhood Markets (NASDAQ:HOOD) Shares Down 5.9% - Time to Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) was down 5.9% on Wednesday . The company traded as low as $41.53 and last traded at $41.48. Approximately 16,765,732 shares changed hands during trading, a decline of 30% from the average daily volume of 23,958,424 shares. The stock had previously closed at $44.08.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citigroup cut their price objective on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Barclays cut 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. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 price target on shares of Robinhood Markets in a research note on Thursday, March 27th. JMP Securities cut their price objective on shares of Robinhood Markets from $77.00 to $70.00 and set a "market outperform" rating for the company in a research note on Tuesday, April 8th. Finally, Raymond James assumed coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They issued a "market perform" rating on the stock. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and an average target price of $55.06.

Robinhood Markets Price Performance

The company has a market capitalization of $36.46 billion, a PE ratio of 26.23, a PEG ratio of 1.05 and a beta of 2.17. The company has a 50 day moving average of $45.22 and a two-hundred day moving average of $40.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) 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%. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the transaction, the chief technology officer now directly owns 17,559 shares of the company's stock, valued at $821,936.79. This represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vladimir Tenev sold 500,000 shares of Robinhood Markets stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $50.77, for a total value of $25,385,000.00. The disclosure for this sale can be found here. Insiders have sold 2,784,193 shares of company stock worth $137,892,219 in the last 90 days. Insiders own 19.95% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Whipplewood Advisors LLC grew its position in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares during the period. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the fourth quarter worth $26,000. CoreCap Advisors LLC increased its position in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after acquiring an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after acquiring an additional 750 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Robinhood Markets by 139.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after acquiring an additional 498 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.