Robinhood Markets (NASDAQ:HOOD) Trading Down 2.3% After Analyst Downgrade

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price was down 2.3% during trading on Monday after Citigroup lowered their price target on the stock from $60.00 to $50.00. Citigroup currently has a neutral rating on the stock. Robinhood Markets traded as low as $38.84 and last traded at $40.97. Approximately 16,883,134 shares were traded during trading, a decline of 23% from the average daily volume of 21,804,656 shares. The stock had previously closed at $41.92.

Several other research analysts have also weighed in on HOOD. Mizuho upped their target price on Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. increased their price objective on Robinhood Markets from $39.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Cantor Fitzgerald assumed coverage on shares of Robinhood Markets in a research report on Thursday, March 6th. They set an "overweight" rating and a $69.00 price objective on the stock. KeyCorp boosted their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $60.00 price target on shares of Robinhood Markets in a research note on Thursday, March 27th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus target price of $60.24.

Remove Ads

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $40.45, for a total transaction of $4,045,000.00. Following the sale, the insider now directly owns 731,642 shares of the company's stock, valued at approximately $29,594,918.90. The trade was a 12.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,205,655 shares of company stock valued at $113,702,448. Insiders own 19.95% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Robinhood Markets by 8.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,178,669 shares of the company's stock valued at $51,024,000 after buying an additional 177,395 shares in the last quarter. Captrust Financial Advisors boosted its position in Robinhood Markets by 31.0% in the 3rd quarter. Captrust Financial Advisors now owns 18,942 shares of the company's stock valued at $444,000 after buying an additional 4,487 shares during the last quarter. Verition Fund Management LLC increased its stake in shares of Robinhood Markets by 34.2% in the 3rd quarter. Verition Fund Management LLC now owns 81,843 shares of the company's stock valued at $1,917,000 after buying an additional 20,838 shares during the period. Benjamin Edwards Inc. boosted its holdings in Robinhood Markets by 13,581.5% in the third quarter. Benjamin Edwards Inc. now owns 73,059 shares of the company's stock valued at $1,711,000 after acquiring an additional 72,525 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its position in Robinhood Markets by 246.9% in the third quarter. Itau Unibanco Holding S.A. now owns 2,390 shares of the company's stock worth $56,000 after purchasing an additional 1,701 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Trading Down 10.3 %

The company has a fifty day simple moving average of $48.73 and a two-hundred day simple moving average of $38.63. The stock has a market capitalization of $33.90 billion, a P/E ratio of 24.38, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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, analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.