Robinhood Markets (NASDAQ:HOOD) Stock Price Down 6.7% - What's Next?

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price fell 6.7% during mid-day trading on Tuesday . The company traded as low as $39.18 and last traded at $39.22. 16,850,263 shares were traded during mid-day trading, a decline of 18% from the average session volume of 20,517,385 shares. The stock had previously closed at $42.02.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HOOD shares. Cantor Fitzgerald started coverage on shares of Robinhood Markets in a research report on Thursday, March 6th. They set an "overweight" rating and a $69.00 price target on the stock. Needham & Company LLC lifted their target price on Robinhood Markets from $52.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft dropped their price target on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Raymond James initiated coverage on Robinhood Markets in a research note on Wednesday, February 5th. They set a "market perform" rating on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a "market perform" rating in a research note on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $61.31.

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Robinhood Markets Trading Down 4.6 %

The firm's 50-day simple moving average is $48.86 and its 200 day simple moving average is $36.90. The stock has a market cap of $35.51 billion, a P/E ratio of 25.54, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (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%. On average, analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 228,645 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $40.37, for a total value of $9,230,398.65. Following the completion of the sale, the director now directly owns 5,042 shares in the company, valued at $203,545.54. This represents a 97.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the transaction, the chief technology officer now owns 17,559 shares in the company, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,985,127 shares of company stock valued at $142,455,378. 19.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Robinhood Markets

Institutional investors have recently modified their holdings of the company. New Wave Wealth Advisors LLC bought a new stake in Robinhood Markets in the fourth quarter worth about $26,000. CoreCap Advisors LLC grew its stake in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after purchasing an additional 750 shares in the last quarter. Colonial Trust Co SC acquired a new stake in Robinhood Markets during the fourth quarter valued at approximately $34,000. Finally, Silicon Valley Capital Partners bought a new stake in Robinhood Markets during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds 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.