Robinhood Markets (NASDAQ:HOOD) Stock Price Down 5.4% - Here's What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price fell 5.4% during trading on Monday . The company traded as low as $68.56 and last traded at $70.82. 31,160,634 shares were traded during mid-day trading, an increase of 15% from the average session volume of 26,982,939 shares. The stock had previously closed at $74.88.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and issued a $71.00 price target on shares of Robinhood Markets in a research note on Tuesday, May 27th. Barclays cut their target price 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. Cantor Fitzgerald decreased their price target on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. JMP Securities reiterated a "market outperform" rating and set a $70.00 price objective on shares of Robinhood Markets in a research note on Thursday, May 1st. Finally, Piper Sandler raised their target price on Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.17.

Robinhood Markets Trading Down 5.0%

The firm's fifty day simple moving average is $52.58 and its two-hundred day simple moving average is $47.54. The company has a market capitalization of $63.00 billion, a price-to-earnings ratio of 45.43, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25.

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

Insider Buying and Selling

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $43.36, for a total transaction of $253,786.08. Following the transaction, the chief technology officer now directly owns 11,706 shares in the company, valued at $507,572.16. This represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,226,771 shares of company stock valued at $111,467,774. 14.47% of the stock is currently owned by insiders.

Institutional Trading of Robinhood Markets

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc grew its holdings in shares of Robinhood Markets by 601.1% in the fourth 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. Charles Schwab Investment Management Inc. grew its stake in shares of Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock worth $175,857,000 after acquiring an additional 138,267 shares in the last quarter. Aigen Investment Management LP raised its stake in shares of Robinhood Markets by 161.2% in the fourth quarter. Aigen Investment Management LP now owns 85,868 shares of the company's stock valued at $3,199,000 after acquiring an additional 52,988 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Robinhood Markets by 19.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company's stock valued at $179,463,000 after acquiring an additional 739,631 shares in the last quarter. Finally, Allegiance Financial Group Advisory Services LLC purchased a new position in Robinhood Markets in the fourth quarter valued at $207,000. Institutional investors and hedge funds 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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