Robinhood Markets (NASDAQ:HOOD) Trading Down 0.2% Following Analyst Downgrade

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price fell 0.2% during trading on Monday after Barclays lowered their price target on the stock from $76.00 to $45.00. Barclays currently has an overweight rating on the stock. Robinhood Markets traded as low as $29.66 and last traded at $34.43. 38,279,877 shares traded hands during trading, an increase of 69% from the average session volume of 22,709,010 shares. The stock had previously closed at $34.51.

A number of other analysts have also recently commented on HOOD. Needham & Company LLC lowered their price target on Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, March 28th. JPMorgan Chase & Co. increased their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Piper Sandler boosted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Morgan Stanley raised their price objective on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $58.41.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 90,866 shares of Robinhood Markets stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $45.27, for a total value of $4,113,503.82. Following the transaction, the director now owns 5,042 shares of the company’s stock, valued at $228,251.34. The trade was a 94.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,621,134 shares of company stock valued at $131,646,496. Insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC boosted its position in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares during the period. Norges Bank acquired a new stake in shares of Robinhood Markets during the 4th quarter worth about $329,598,000. GQG Partners LLC bought a new stake in shares of Robinhood Markets during the 4th quarter worth about $302,325,000. Artisan Partners Limited Partnership acquired a new position in Robinhood Markets in the 4th quarter valued at about $152,949,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Robinhood Markets by 335.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock valued at $193,202,000 after acquiring an additional 3,994,745 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Price Performance

The stock has a market capitalization of $30.14 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 1.05 and a beta of 2.17. The company’s 50-day simple moving average is $48.15 and its 200-day simple moving average is $38.93.

Robinhood Markets (NASDAQ:HOOD) last released 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 return on equity of 13.53% and a net margin of 47.81%. Research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.