Robinhood Markets (NASDAQ:HOOD) Trading Down 5.9% - Time to Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price traded down 5.9% on Wednesday . The stock traded as low as $41.53 and last traded at $41.48. 16,765,732 shares changed hands during trading, a decline of 30% from the average session volume of 23,958,424 shares. The stock had previously closed at $44.08.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several recent analyst reports. Cantor Fitzgerald began coverage on shares of Robinhood Markets in a research note on Thursday, March 6th. They issued an "overweight" rating and a $69.00 target price for the company. Mizuho boosted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Citigroup dropped their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Raymond James started coverage on Robinhood Markets in a report on Wednesday, February 5th. They issued a "market perform" rating for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $55.06.

Robinhood Markets Trading Up 1.3 %

The stock has a market capitalization of $36.46 billion, a P/E ratio of 26.23, a P/E/G ratio of 1.05 and a beta of 2.17. The stock's 50-day moving average price is $45.22 and its two-hundred day moving average price is $40.05.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data 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%. On average, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the sale, the insider now directly owns 706,642 shares in the company, valued at approximately $42,942,634.34. This trade represents a 6.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 522,180 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the sale, the director now directly owns 5,042 shares in the company, valued at $316,133.40. This trade represents a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,784,193 shares of company stock valued at $137,892,219 over the last 90 days. 19.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC increased its position in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after acquiring an additional 508 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets in the 4th quarter worth approximately $26,000. CoreCap Advisors LLC grew its position in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares during the period. Creative Financial Designs Inc. ADV raised its stake in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after buying an additional 750 shares during the period. Finally, Colonial Trust Co SC purchased a new stake in Robinhood Markets in the 4th quarter worth $34,000. 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.