Robinhood Markets (NASDAQ:HOOD) Stock Price Down 1.6% - Should You Sell?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) were down 1.6% on Tuesday . The company traded as low as $98.75 and last traded at $102.67. Approximately 22,199,588 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 31,111,505 shares. The stock had previously closed at $104.34.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HOOD shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. Needham & Company LLC reiterated a "buy" rating and issued a $71.00 price target on shares of Robinhood Markets in a research report on Tuesday, May 27th. Barclays upped their price target on Robinhood Markets from $57.00 to $102.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Morgan Stanley upped their price target on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Redburn Atlantic reiterated a "sell" rating and issued a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $85.29.

Robinhood Markets Stock Down 1.9%

The stock has a market cap of $90.60 billion, a PE ratio of 58.08, a P/E/G ratio of 5.60 and a beta of 2.36. The business's fifty day moving average is $78.73 and its 200 day moving average is $57.81.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share (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 firm had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. During the same period in the previous year, the company posted $0.18 EPS. The business's quarterly revenue was up 50.0% on a year-over-year basis. As a group, analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the transaction, the director owned 7,863 shares of the company's stock, valued at approximately $506,848.98. This trade represents a 98.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the sale, the insider owned 228,621 shares in the company, valued at approximately $16,035,476.94. This trade represents a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,749,630 shares of company stock valued at $221,118,663. Company insiders own 19.95% of the company's stock.

Institutional Trading of Robinhood Markets

A number of institutional investors and hedge funds have recently modified their holdings of HOOD. Vanguard Group Inc. raised its position in shares of Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares during the last quarter. FMR LLC grew its position in shares of Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after buying an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC lifted its stake in shares of Robinhood Markets by 1.1% in the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after purchasing an additional 273,860 shares during the period. Geode Capital Management LLC raised its stake in Robinhood Markets by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after buying an additional 555,299 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after buying an additional 3,091,514 shares during the last quarter. 93.27% of the stock is owned by 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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