Robinhood Markets (NASDAQ:HOOD) Shares Down 0.8% – Here’s Why

Robinhood Markets, Inc. (NASDAQ:HOOD) shares traded down 0.8% on Friday . The stock traded as low as $41.50 and last traded at $43.33. 11,885,875 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 20,915,489 shares. The stock had previously closed at $43.66.

Analyst Ratings Changes

A number of equities research analysts have commented on HOOD shares. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Keefe, Bruyette & Woods upped their target price on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. KeyCorp increased their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Compass Point initiated coverage on shares of Robinhood Markets in a research report on Wednesday. They issued a “buy” rating and a $61.00 price target on the stock. Finally, Morgan Stanley increased their price target on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $61.29.

Robinhood Markets Price Performance

The company has a fifty day moving average price of $49.04 and a two-hundred day moving average price of $37.28. The company has a market capitalization of $39.28 billion, a P/E ratio of 28.25, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last issued 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%. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the transaction, the insider now owns 806,955 shares in the company, valued at approximately $30,268,882.05. This represents a 27.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 228,645 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $40.37, for a total value of $9,230,398.65. Following the sale, the director now directly owns 5,042 shares in the company, valued at $203,545.54. This trade represents a 97.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,979,251 shares of company stock worth $142,232,560. 19.95% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its position in Robinhood Markets by 184.8% during the 4th quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after acquiring an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC grew its position in Robinhood Markets by 1.1% during the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock worth $900,159,000 after acquiring an additional 273,860 shares during the last quarter. State Street Corp grew its position in shares of Robinhood Markets by 8.7% in the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after buying an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Robinhood Markets by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock worth $455,464,000 after buying an additional 555,299 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Robinhood Markets by 34.4% in the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock worth $450,031,000 after buying an additional 3,091,514 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.