Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) dropped 2.9% during mid-day trading on Tuesday . The company traded as low as $131.35 and last traded at $131.84. Approximately 19,199,786 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 41,221,914 shares. The stock had previously closed at $135.80.
Analyst Ratings Changes
Several analysts recently weighed in on the stock. Needham & Company LLC lifted their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, September 30th. Citizens Jmp increased their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a "mkt outperform" rating in a research note on Thursday, October 9th. KeyCorp upped their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Cantor Fitzgerald raised their target price on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Mizuho lifted their price target on Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, September 10th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $118.94.
Check Out Our Latest Analysis on HOOD
Robinhood Markets Stock Performance
The stock has a market cap of $117.16 billion, a PE ratio of 66.92, a price-to-earnings-growth ratio of 3.43 and a beta of 2.42. The firm has a 50-day moving average price of $121.70 and a 200-day moving average price of $90.34.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. During the same period last year, the business earned $0.21 EPS. Robinhood Markets's revenue was up 45.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven M. Quirk sold 60,113 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total value of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares in the company, valued at $9,531,353.14. This trade represents a 38.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,181,462 shares of company stock worth $567,328,871. 19.95% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. WCM Investment Management LLC raised its stake in Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company's stock valued at $1,081,910,000 after buying an additional 11,244,182 shares during the last quarter. Norges Bank bought a new position in Robinhood Markets in the 2nd quarter worth approximately $973,122,000. Kingstone Capital Partners Texas LLC purchased a new stake in Robinhood Markets during the 2nd quarter valued at approximately $951,479,000. Vanguard Group Inc. lifted its holdings in shares of Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after buying an additional 5,874,701 shares in the last quarter. Finally, AGF Management Ltd. boosted its position in shares of Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after acquiring an additional 4,255,862 shares during the last quarter. Institutional investors own 93.27% of the company's stock.
About Robinhood Markets
(
Get Free Report)
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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