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

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) traded 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. 16,883,134 shares changed hands during trading, a decline of 23% from the average session volume of 21,804,656 shares. The stock had previously closed at $41.92.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped 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. Raymond James began coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a "market perform" rating for the company. Compass Point assumed coverage on Robinhood Markets in a report on Wednesday, March 19th. They set a "buy" rating and a $61.00 price objective for the company. Wolfe Research cut Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Finally, Barclays boosted their price target on Robinhood Markets from $54.00 to $76.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $60.24.

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Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 522,180 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. This represents a 99.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,627,010 shares of company stock worth $131,897,049 over the last 90 days. Insiders own 19.95% of the company's stock.

Institutional Trading of Robinhood Markets

Several institutional investors have recently modified their holdings of the business. Versant Capital Management Inc grew its position in shares of Robinhood Markets by 2.9% in the 1st quarter. Versant Capital Management Inc now owns 23,634 shares of the company's stock valued at $984,000 after buying an additional 660 shares during the last quarter. Kera Capital Partners Inc. acquired a new stake in Robinhood Markets during the first quarter worth approximately $4,272,000. MassMutual Private Wealth & Trust FSB increased its holdings in Robinhood Markets by 139.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after purchasing an additional 498 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Robinhood Markets during the 4th quarter worth approximately $588,000. Finally, Kilter Group LLC acquired a new stake in shares of Robinhood Markets during the 4th quarter worth approximately $240,000. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Performance

The firm's 50 day moving average price is $48.49 and its two-hundred day moving average price is $38.62. The company has a market cap of $29.27 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly 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 forecast that Robinhood Markets, Inc. will post 1.35 EPS 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.