Robinhood Markets (NASDAQ:HOOD) Trading Down 0.8% - Here's Why

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on HOOD. JPMorgan Chase & Co. increased their price objective 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. Cantor Fitzgerald assumed coverage on Robinhood Markets in a report on Thursday, March 6th. They issued an "overweight" rating and a $69.00 price target for the company. Compass Point initiated coverage on Robinhood Markets in a research report on Wednesday, March 19th. They set a "buy" rating and a $61.00 price objective on the stock. Mizuho upped their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Raymond James initiated coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They issued a "market perform" rating for the company. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average price target of $61.29.

Robinhood Markets Price Performance

The stock's 50 day moving average is $49.04 and its two-hundred day moving average is $37.41. The stock has a market capitalization of $42.48 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

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Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating 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, equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction 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 directly owns 17,559 shares of the company's stock, valued at $821,936.79. This trade represents a 25.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 228,645 shares of the business's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the completion of the sale, the director now directly owns 5,042 shares of the company's stock, valued at approximately $203,545.54. This trade represents a 97.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,679,251 shares of company stock valued at $130,979,560 in the last ninety days. Insiders own 19.95% of the company's stock.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently made changes to their positions in HOOD. Toronto Dominion Bank grew its stake in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company's stock worth $1,602,000 after buying an additional 16,219 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock valued at $164,000 after acquiring an additional 3,769 shares during the period. Everence Capital Management Inc. purchased a new position in shares of Robinhood Markets during the fourth quarter worth approximately $634,000. Charles Schwab Investment Management Inc. grew its position in Robinhood Markets by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock worth $175,857,000 after purchasing an additional 138,267 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its stake in Robinhood Markets by 20.7% in the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company's stock valued at $20,154,000 after purchasing an additional 92,613 shares during the period. Institutional investors and hedge funds 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.