Robinhood Markets (NASDAQ:HOOD) Stock Price Down 1.2% - What's Next?

Key Points

• Robinhood Markets' stock price declined by 1.2% to $129.91, with trading volume down 40% from the average session volume.
• Multiple analysts have raised their price targets for Robinhood, with Needham & Company upgrading their target to $145.00 and maintaining a "buy" rating.
• Company insiders have sold a significant amount of shares recently, totaling $567 million over the last quarter, affecting their ownership structure.

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) fell 1.2% during trading on Friday . The company traded as low as $125.60 and last traded at $129.91. 24,965,097 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 41,399,195 shares. The stock had previously closed at $131.44.

Analyst Ratings Changes

A number of research firms have recently commented on HOOD. Needham & Company LLC raised their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Morgan Stanley raised their price objective on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 1st. KeyCorp raised their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Barclays raised their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Mizuho lifted their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, September 10th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.94.

Robinhood Markets Price Performance

The stock has a market capitalization of $115.45 billion, a PE ratio of 65.94, a P/E/G ratio of 3.54 and a beta of 2.42. The firm's 50 day simple moving average is $120.95 and its 200 day simple moving average is $88.35.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same period last year, the firm posted $0.21 earnings per share. The business's revenue was up 45.0% compared to the same quarter last year. Analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the transaction, the insider directly owned 591,887 shares of the company's stock, valued at approximately $59,170,943.39. The trade was a 27.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Meyer Malka sold 1,093,288 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the transaction, the director directly owned 3,976,234 shares in the company, valued at approximately $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,181,462 shares of company stock valued at $567,328,871 over the last quarter. Company insiders own 14.47% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HOOD. Hantz Financial Services Inc. increased its position in Robinhood Markets by 120.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company's stock valued at $25,000 after purchasing an additional 148 shares during the period. Hemington Wealth Management increased its position in Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after purchasing an additional 218 shares during the period. Valley National Advisers Inc. boosted its holdings in shares of Robinhood Markets by 113.6% during the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company's stock valued at $26,000 after buying an additional 100 shares in the last quarter. Smithfield Trust Co bought a new stake in shares of Robinhood Markets during the 2nd quarter valued at $29,000. Finally, Wayfinding Financial LLC bought a new stake in shares of Robinhood Markets during the 1st quarter valued at $30,000. 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.

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