Robinhood Markets (NASDAQ:HOOD) Shares Down 1.1% - What's Next?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price dropped 1.1% during trading on Wednesday . The stock traded as low as $64.83 and last traded at $65.32. Approximately 6,695,234 shares were traded during trading, a decline of 75% from the average daily volume of 26,448,699 shares. The stock had previously closed at $66.02.

Analysts Set New Price Targets

HOOD has been the topic of several research analyst reports. Piper Sandler lifted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. The Goldman Sachs Group lifted their price target on shares of Robinhood Markets from $56.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. lifted their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. JMP Securities reiterated a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a research note on Thursday, May 1st. Finally, Wolfe Research lowered shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.41.

Robinhood Markets Stock Down 0.1%

The firm has a market cap of $57.63 billion, a PE ratio of 41.45, a P/E/G ratio of 1.05 and a beta of 2.15. The company's fifty day moving average price is $49.03 and its two-hundred day moving average price is $45.62.

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 firm had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The firm's revenue was up 50.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. As a group, analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the sale, the chief technology officer now owns 17,559 shares of the company's stock, valued at $821,936.79. The trade was a 25.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Meyer Malka sold 64,951 shares of Robinhood Markets stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $49.64, for a total transaction of $3,224,167.64. Following the completion of the sale, the director now directly owns 3,235,585 shares in the company, valued at approximately $160,614,439.40. The trade was a 1.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,192,688 shares of company stock valued at $107,043,646 over the last quarter. Corporate insiders own 14.47% of the company's stock.

Institutional Trading of Robinhood Markets

A number of institutional investors have recently added to or reduced their stakes in the stock. Silicon Valley Capital Partners boosted its holdings in Robinhood Markets by 50.0% during the first quarter. Silicon Valley Capital Partners now owns 1,500 shares of the company's stock worth $63,000 after buying an additional 500 shares in the last quarter. Strs Ohio purchased a new stake in Robinhood Markets during the first quarter worth about $11,216,000. Acadian Asset Management LLC boosted its holdings in Robinhood Markets by 293.6% during the first quarter. Acadian Asset Management LLC now owns 144,791 shares of the company's stock worth $6,018,000 after buying an additional 108,001 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Robinhood Markets by 43.9% during the first quarter. Geneos Wealth Management Inc. now owns 7,860 shares of the company's stock worth $327,000 after buying an additional 2,398 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its holdings in Robinhood Markets by 6.6% during the first quarter. IFM Investors Pty Ltd now owns 107,687 shares of the company's stock worth $4,482,000 after buying an additional 6,648 shares in the last quarter. Hedge funds and other 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.