Robinhood Markets (NASDAQ:HOOD) Shares Down 6.5% - Here's What Happened

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) traded down 6.5% during mid-day trading on Thursday . The stock traded as low as $54.76 and last traded at $55.39. 13,242,623 shares changed hands during trading, a decline of 46% from the average session volume of 24,568,754 shares. The stock had previously closed at $59.23.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. JMP Securities lifted their price objective on Robinhood Markets from $60.00 to $77.00 and gave the stock a "market outperform" rating in a report on Thursday, February 13th. The Goldman Sachs Group upgraded Robinhood Markets from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Citigroup boosted their price objective on Robinhood Markets from $45.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods boosted their price objective on Robinhood Markets from $38.00 to $60.00 and gave the company a "market perform" rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $59.53.

Robinhood Markets Trading Down 8.0 %

The stock has a 50-day simple moving average of $47.42 and a 200-day simple moving average of $33.80. The company has a market cap of $45.61 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 1.11 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.53% and a net margin of 47.81%. As a group, research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, Director Meyer Malka sold 1,535,681 shares of the business's 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 sale, the director now owns 4,974,238 shares of the company's stock, valued at approximately $199,516,686.18. The trade was a 23.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total value of $3,038,500.00. Following the completion of the sale, the insider now directly owns 706,642 shares in the company, valued at $42,942,634.34. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,520,607 shares of company stock valued at $200,784,430. Corporate insiders own 19.95% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently modified their holdings of HOOD. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $26,000. HM Payson & Co. raised its position in shares of Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company's stock worth $28,000 after purchasing an additional 410 shares during the period. Eastern Bank acquired a new stake in shares of Robinhood Markets during the third quarter worth $30,000. True Wealth Design LLC acquired a new stake in shares of Robinhood Markets during the third quarter worth $30,000. Finally, CoreCap Advisors LLC raised its position in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

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.