Robinhood Markets (NASDAQ:HOOD) Stock Price Down 6.7% – Here’s What Happened

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) fell 6.7% during trading on Tuesday . The company traded as low as $39.18 and last traded at $39.22. 16,850,263 shares changed hands during trading, a decline of 18% from the average session volume of 20,517,385 shares. The stock had previously closed at $42.02.

Analyst Ratings Changes

HOOD has been the subject of a number of analyst reports. KeyCorp increased their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Piper Sandler upped their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a research report on Thursday, March 6th. They set an “overweight” rating and a $69.00 price objective for the company. Mizuho raised their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Citigroup raised their price target on shares of Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

Robinhood Markets Trading Up 6.7 %

The company has a market cap of $37.90 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The firm’s fifty day moving average is $48.90 and its 200 day moving average is $36.94.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping 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%. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 228,645 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the transaction, the director now owns 5,042 shares of the company’s stock, valued at approximately $203,545.54. The trade was a 97.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the transaction, the insider now directly owns 806,955 shares in the company, valued at approximately $30,268,882.05. The trade was a 27.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,985,127 shares of company stock valued at $142,455,378. 19.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HOOD. Victory Capital Management Inc. lifted its position in Robinhood Markets by 85.3% in the third quarter. Victory Capital Management Inc. now owns 117,383 shares of the company’s stock valued at $2,749,000 after buying an additional 54,046 shares during the last quarter. CIBC Asset Management Inc lifted its position in Robinhood Markets by 3.4% in the third quarter. CIBC Asset Management Inc now owns 21,731 shares of the company’s stock valued at $509,000 after buying an additional 724 shares during the last quarter. Natixis Advisors LLC lifted its position in Robinhood Markets by 44.0% in the third quarter. Natixis Advisors LLC now owns 33,980 shares of the company’s stock valued at $796,000 after buying an additional 10,376 shares during the last quarter. Quest Partners LLC increased its stake in Robinhood Markets by 1,008.4% during the third quarter. Quest Partners LLC now owns 15,086 shares of the company’s stock worth $353,000 after purchasing an additional 13,725 shares during the period. Finally, Caprock Group LLC increased its stake in Robinhood Markets by 1.3% during the third quarter. Caprock Group LLC now owns 100,527 shares of the company’s stock worth $2,354,000 after purchasing an additional 1,256 shares during the period. Institutional investors and hedge funds 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.