Robinhood Markets (NASDAQ:HOOD) Stock Price Down 2.1% - Should You Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares traded down 2.1% during mid-day trading on Friday . The company traded as low as $75.79 and last traded at $76.71. 13,511,554 shares were traded during trading, a decline of 51% from the average session volume of 27,492,435 shares. The stock had previously closed at $78.35.

Analyst Upgrades and Downgrades

Several research firms recently commented on HOOD. JMP Securities restated a "market outperform" rating and issued a $70.00 price target on shares of Robinhood Markets in a report on Thursday, May 1st. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $60.00 price objective on shares of Robinhood Markets in a research report on Thursday, March 27th. Compass Point assumed coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, KeyCorp cut their price objective on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.00.

Robinhood Markets Stock Up 0.1%

The company has a 50 day moving average of $59.21 and a 200-day moving average of $49.74. The stock has a market capitalization of $69.45 billion, a P/E ratio of 44.58, a PEG ratio of 4.62 and a beta of 2.25.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. Robinhood Markets's quarterly revenue was up 50.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 earnings per share. Equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 47,023 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $46.37, for a total transaction of $2,180,456.51. Following the completion of the transaction, the director now owns 5,042 shares in the company, valued at approximately $233,797.54. The trade was a 90.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,421,593 shares of company stock worth $133,064,692. 14.47% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc boosted its stake in Robinhood Markets by 601.1% during the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock valued at $164,000 after purchasing an additional 3,769 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of Robinhood Markets in the first quarter valued at $277,000. Charles Schwab Investment Management Inc. boosted its stake 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 buying an additional 138,267 shares in the last quarter. Aigen Investment Management LP grew its holdings in Robinhood Markets by 161.2% during the fourth quarter. Aigen Investment Management LP now owns 85,868 shares of the company's stock worth $3,199,000 after acquiring an additional 52,988 shares during the period. Finally, Allegiance Financial Group Advisory Services LLC acquired a new position in Robinhood Markets during the fourth quarter worth about $207,000. 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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