Robinhood Markets (NASDAQ:HOOD) Shares Down 0.2% After Analyst Downgrade

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares dropped 0.2% during trading on Monday after JMP Securities lowered their price target on the stock from $77.00 to $70.00. JMP Securities currently has a market outperform rating on the stock. Robinhood Markets traded as low as $29.66 and last traded at $34.43. Approximately 38,279,877 shares were traded during mid-day trading, an increase of 69% from the average daily volume of 22,709,010 shares. The stock had previously closed at $34.51.

A number of other brokerages have also recently commented on HOOD. Compass Point initiated coverage on Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective for the company. Piper Sandler lifted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Barclays lowered their price objective on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday. Needham & Company LLC reduced their price objective on shares of Robinhood Markets from $70.00 to $62.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $55.06.

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Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Baiju Bhatt sold 90,866 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $45.27, for a total value of $4,113,503.82. Following the completion of the sale, the director now owns 5,042 shares in the company, valued at approximately $228,251.34. The trade was a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,651,987 shares of company stock valued at $132,806,233. 19.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Whipplewood Advisors LLC lifted its stake in shares of Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in Robinhood Markets during the 4th quarter valued at $26,000. CoreCap Advisors LLC lifted 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 acquiring an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its holdings 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 acquiring an additional 750 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Robinhood Markets by 139.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after purchasing an additional 498 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Up 5.8 %

The company has a market capitalization of $37.97 billion, a PE ratio of 27.41, a PEG ratio of 1.05 and a beta of 2.17. The company has a 50-day moving average price of $46.63 and a two-hundred day moving average price of $39.35.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share 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%. As a group, equities analysts anticipate 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.