Robinhood Markets (NASDAQ:HOOD) Stock Price Down 0.8% – Should You Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price fell 0.8% during mid-day trading on Wednesday . The company traded as low as $44.92 and last traded at $45.85. 9,977,221 shares traded hands during trading, a decline of 66% from the average session volume of 29,303,730 shares. The stock had previously closed at $46.22.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price objective on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Citigroup lifted their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. JMP Securities increased their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. boosted their price target on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $59.53.

Robinhood Markets Trading Up 0.7 %

The stock’s 50 day moving average price is $48.67 and its two-hundred day moving average price is $35.48. The firm has a market capitalization of $41.20 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results 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 net margin of 47.81% and a return on equity of 13.53%. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 522,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the sale, the director now owns 5,042 shares in the company, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,140,788 shares of company stock worth $148,067,678. 19.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates increased its position in Robinhood Markets by 76.6% during the third quarter. Raymond James & Associates now owns 99,278 shares of the company’s stock worth $2,325,000 after purchasing an additional 43,075 shares during the last quarter. International Assets Investment Management LLC grew its position in Robinhood Markets by 301.5% during the third quarter. International Assets Investment Management LLC now owns 7,026 shares of the company’s stock valued at $165,000 after acquiring an additional 5,276 shares during the period. US Bancorp DE increased its stake in Robinhood Markets by 94.0% during the third quarter. US Bancorp DE now owns 27,751 shares of the company’s stock worth $650,000 after acquiring an additional 13,448 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Robinhood Markets by 834.5% during the third quarter. Farther Finance Advisors LLC now owns 6,504 shares of the company’s stock worth $152,000 after acquiring an additional 5,808 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Robinhood Markets by 24.7% in the 3rd quarter. Van ECK Associates Corp now owns 627,743 shares of the company’s stock worth $14,702,000 after purchasing an additional 124,410 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.