Robinhood Markets (NASDAQ:HOOD) Trading Down 3.6% – Should You Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price traded down 3.6% on Friday . The stock traded as low as $42.29 and last traded at $43.22. 18,013,826 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 29,759,838 shares. The stock had previously closed at $44.84.

Wall Street Analyst Weigh In

Several research firms have weighed in on HOOD. Piper Sandler raised their target price 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. Barclays increased their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Needham & Company LLC lifted their price objective on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Sanford C. Bernstein upped their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.13.

Robinhood Markets Price Performance

The stock’s fifty day simple moving average is $48.93 and its two-hundred day simple moving average is $35.64. The company has a market capitalization of $39.26 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 522,180 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. The trade was a 99.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Thursday, January 2nd. The shares were 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. Insiders sold a total of 3,165,788 shares of company stock worth $149,293,178 in the last three months. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

A number of large investors have recently added to or reduced their stakes in HOOD. FMR LLC grew 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 valued at $1,499,248,000 after purchasing an additional 26,107,934 shares in the last quarter. Norges Bank purchased a new position in Robinhood Markets in the fourth quarter valued at about $329,598,000. GQG Partners LLC acquired a new position in Robinhood Markets in the 4th quarter worth about $302,325,000. Artisan Partners Limited Partnership purchased a new stake in shares of Robinhood Markets during the 4th quarter worth about $152,949,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Robinhood Markets by 335.6% during 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 buying an additional 3,994,745 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

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.