Robinhood Markets (NASDAQ:HOOD) Stock Price Down 5.9% After Analyst Downgrade

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price fell 5.9% during trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $75.00 to $61.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Robinhood Markets traded as low as $35.95 and last traded at $36.64. 15,418,444 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 32,756,459 shares. The stock had previously closed at $38.92.

A number of other analysts have also recently commented on HOOD. Sanford C. Bernstein upped their price objective on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Mizuho raised their price objective 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. JPMorgan Chase & Co. upped their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Barclays lifted their price target on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Cantor Fitzgerald assumed coverage on Robinhood Markets in a research note on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.31.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the transaction, the chief technology officer now owns 17,559 shares of the company’s stock, valued at $821,936.79. This represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,985,127 shares of company stock worth $142,455,378 in the last three months. 19.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently bought and sold shares of the business. FMR LLC increased its stake 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 acquiring an additional 26,107,934 shares during the last quarter. Norges Bank bought a new position in Robinhood Markets during the 4th quarter valued at about $329,598,000. GQG Partners LLC bought a new stake in Robinhood Markets in the fourth quarter worth about $302,325,000. Artisan Partners Limited Partnership bought a new stake in shares of Robinhood Markets during the 4th quarter worth approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Robinhood Markets by 335.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock valued at $193,202,000 after purchasing an additional 3,994,745 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Down 5.7 %

The firm’s 50-day simple moving average is $49.00 and its 200-day simple moving average is $36.26. The company has a market capitalization of $32.50 billion, a PE ratio of 23.33, a PEG ratio of 1.05 and a beta of 2.14.

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

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.