Robinhood Markets (NASDAQ:HOOD) Trading Down 0.8% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price was down 0.8% during trading on Monday . The company traded as low as $48.08 and last traded at $51.51. Approximately 9,409,476 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 20,477,293 shares. The stock had previously closed at $51.95.

Analysts Set New Price Targets

A number of equities analysts have commented on HOOD shares. Barclays boosted their target price on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. JMP Securities upped their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Piper Sandler upped their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Citigroup upped their price objective on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, Sanford C. Bernstein upped their price objective 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. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.73.

Robinhood Markets Trading Down 0.1 %

The company has a 50-day simple moving average of $41.88 and a 200 day simple moving average of $30.18. The firm has a market cap of $45.88 billion, a PE ratio of 87.97, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13.

Insiders Place Their Bets

In related news, Director Meyer Malka sold 1,535,681 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the completion of the transaction, the director now directly owns 4,974,238 shares of the company’s stock, valued at approximately $199,516,686.18. This represents a 23.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 108,964 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $24.92, for a total value of $2,715,382.88. Following the completion of the transaction, the director now directly owns 2,521 shares of the company’s stock, valued at approximately $62,823.32. This represents a 97.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,047,400 shares of company stock worth $164,578,352. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently modified their holdings of the business. Bradley Foster & Sargent Inc. CT purchased a new position in Robinhood Markets during the 4th quarter valued at about $214,000. Handelsbanken Fonder AB boosted its holdings in Robinhood Markets by 2.5% during the 4th quarter. Handelsbanken Fonder AB now owns 128,700 shares of the company’s stock valued at $4,795,000 after acquiring an additional 3,100 shares during the period. Ieq Capital LLC boosted its holdings in Robinhood Markets by 219.7% during the 4th quarter. Ieq Capital LLC now owns 469,973 shares of the company’s stock valued at $17,511,000 after acquiring an additional 322,971 shares during the period. Alberta Investment Management Corp purchased a new position in shares of Robinhood Markets in the 4th quarter valued at about $1,408,000. Finally, Laidlaw Wealth Management LLC purchased a new position in shares of Robinhood Markets in the 4th quarter valued at about $1,063,000. 93.27% of the stock is currently owned by hedge funds and other 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.