Robinhood Markets (NASDAQ:HOOD) Stock Price Down 2.3% - Should You Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares fell 2.3% during trading on Tuesday . The stock traded as low as $90.70 and last traded at $91.29. 29,599,289 shares traded hands during mid-day trading, a decline of 0% from the average session volume of 29,620,883 shares. The stock had previously closed at $93.46.

Wall Street Analyst Weigh In

Several brokerages recently commented on HOOD. Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. JMP Securities reaffirmed a "market outperform" rating and issued a $70.00 price objective on shares of Robinhood Markets in a report on Thursday, May 1st. Morgan Stanley lifted their price objective on Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. Redburn Atlantic reaffirmed a "sell" rating and issued a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 price target on shares of Robinhood Markets in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $72.71.

Robinhood Markets Price Performance

The company has a market capitalization of $83.71 billion, a PE ratio of 53.72, a P/E/G ratio of 4.75 and a beta of 2.36. The business has a 50-day moving average of $70.54 and a 200 day moving average of $54.21.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results 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 return on equity of 15.42% and a net margin of 48.77%. The firm had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Robinhood Markets's quarterly revenue was up 50.0% on a year-over-year basis. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total value of $69,952,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Steven M. Quirk sold 104,887 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the completion of the transaction, the insider directly owned 228,621 shares in the company, valued at approximately $16,035,476.94. This trade represents a 31.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,466,838 shares of company stock valued at $178,848,489. 19.95% of the stock is currently owned by insiders.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Whipplewood Advisors LLC boosted its position in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after acquiring an additional 508 shares in the last quarter. Hemington Wealth Management lifted its holdings in shares of Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Robinhood Markets during the 1st quarter valued at $30,000. Pandora Wealth Inc. purchased a new stake in shares of Robinhood Markets during the 1st quarter valued at $33,000. Finally, CoreCap Advisors LLC lifted its holdings in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares during the last quarter. Institutional investors 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.