Robinhood Markets (NASDAQ:HOOD) Trading Down 5.9% Following Analyst Downgrade

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares fell 5.9% during trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $75.00 to $61.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Robinhood Markets traded as low as $35.95 and last traded at $36.64. 15,418,444 shares traded hands during trading, a decline of 53% from the average session volume of 32,756,459 shares. The stock had previously closed at $38.92.

HOOD has been the topic of several other research reports. Needham & Company LLC lifted their price target on Robinhood Markets from $52.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Citigroup lifted their price target on Robinhood Markets from $45.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Raymond James began coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a "market perform" rating on the stock. Wolfe Research lowered Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group raised Robinhood Markets from a "neutral" rating to a "buy" rating and boosted their target price for the company from $40.00 to $46.00 in a report on Friday, December 6th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $61.31.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the business's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total value of $11,253,000.00. Following the sale, the insider now owns 806,955 shares in the company, valued at approximately $30,268,882.05. The trade was a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,985,127 shares of company stock valued at $142,455,378 over the last quarter. Company insiders own 19.95% of the company's stock.

Institutional Trading of Robinhood Markets

A number of institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC lifted its position in shares of Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after acquiring an additional 273,860 shares in the last quarter. State Street Corp lifted its position in shares of Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company's stock valued at $317,536,000 after acquiring an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after acquiring an additional 555,299 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after acquiring an additional 3,091,514 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

The company has a 50-day moving average price of $48.88 and a 200-day moving average price of $36.61. The firm has a market capitalization of $34.75 billion, a PE ratio of 24.99, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.