Robinhood Markets (NASDAQ:HOOD) Shares Down 6.2% - Time to Sell?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) fell 6.2% on Tuesday . The stock traded as low as $40.34 and last traded at $40.53. 10,221,125 shares were traded during mid-day trading, a decline of 39% from the average session volume of 16,865,992 shares. The stock had previously closed at $43.20.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of research analyst reports. Citigroup boosted their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a "neutral" rating in a report on Friday, September 27th. Sanford C. Bernstein boosted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. Needham & Company LLC reissued a "buy" rating and set a $52.00 target price (up from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Piper Sandler lifted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an "overweight" rating in a report on Monday, December 2nd. Finally, JMP Securities increased their price objective on Robinhood Markets from $33.00 to $40.00 and gave the company a "market outperform" rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus target price of $38.13.

Robinhood Markets Stock Down 3.6 %

The company has a market capitalization of $36.80 billion, a PE ratio of 70.56, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09. The firm's 50 day simple moving average is $32.42 and its 200 day simple moving average is $25.34.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. Robinhood Markets's revenue was up 36.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) earnings per share. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 98,404 shares of the firm's stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the completion of the transaction, the director now owns 2,521 shares of the company's stock, valued at $66,554.40. This trade represents a 97.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the business's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $22.88, for a total value of $5,720,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,037,689 shares of company stock valued at $177,092,487. 19.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HM Payson & Co. increased its stake in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company's stock worth $28,000 after acquiring an additional 410 shares during the last quarter. Eastern Bank acquired a new stake in Robinhood Markets during the third quarter worth about $30,000. True Wealth Design LLC acquired a new stake in Robinhood Markets during the third quarter worth about $30,000. ORG Wealth Partners LLC purchased a new position in Robinhood Markets during the third quarter worth about $33,000. Finally, International Assets Investment Management LLC acquired a new position in Robinhood Markets in the 2nd quarter valued at about $40,000. Hedge funds and other 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.