Robinhood Markets (NASDAQ:HOOD) Stock Price Down 2% - What's Next?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price traded down 2% on Monday . The stock traded as low as $45.56 and last traded at $47.64. 16,546,773 shares changed hands during trading, a decline of 36% from the average session volume of 25,776,936 shares. The stock had previously closed at $48.59.

Wall Street Analyst Weigh In

HOOD has been the subject of several recent research reports. Raymond James assumed coverage on Robinhood Markets in a report on Wednesday, February 5th. They issued a "market perform" rating for the company. Cantor Fitzgerald dropped 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. Citigroup dropped their price objective on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Compass Point assumed coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target on the stock. Finally, Barclays reduced their price objective on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $53.24.

Robinhood Markets Trading Down 1.5 %

The stock has a market cap of $42.40 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The business has a 50 day moving average of $43.08 and a 200-day moving average of $41.76.

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 analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The firm had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. During the same period in the prior year, the firm earned $0.18 EPS. The business's quarterly revenue was up 50.0% on a year-over-year basis. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets 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 value of $273,978.93. Following the sale, the chief technology officer now directly owns 17,559 shares in the company, valued at $821,936.79. This represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 522,180 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the transaction, the director now owns 5,042 shares of the company's stock, valued at $316,133.40. The trade was a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,309,593 shares of company stock worth $113,525,021. 19.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Several large investors have recently modified their holdings of HOOD. IFP Advisors Inc lifted its position in Robinhood Markets by 601.1% in the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock valued at $164,000 after acquiring an additional 3,769 shares in the last quarter. Everence Capital Management Inc. bought a new position in Robinhood Markets during the fourth quarter valued at approximately $634,000. Charles Schwab Investment Management Inc. increased its position in Robinhood Markets by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock valued at $175,857,000 after acquiring an additional 138,267 shares during the last quarter. Atomi Financial Group Inc. boosted its holdings in shares of Robinhood Markets by 20.7% in the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company's stock worth $20,154,000 after buying an additional 92,613 shares during the last quarter. Finally, Requisite Capital Management LLC bought a new stake in shares of Robinhood Markets during the 4th quarter valued at $266,000. Institutional investors own 93.27% of the company's stock.

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.

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