Robinhood Markets (NASDAQ:HOOD) Shares Down 1.9% – Time to Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares dropped 1.9% on Tuesday . The stock traded as low as $55.15 and last traded at $55.18. Approximately 6,082,139 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 20,180,012 shares. The stock had previously closed at $56.27.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on HOOD shares. KeyCorp upped their price objective on shares of Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Morgan Stanley upped their price target on shares of Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. JMP Securities raised their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. Keefe, Bruyette & Woods boosted their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Finally, Mizuho raised their price target on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday. Four 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.67.

Robinhood Markets Price Performance

The company has a fifty day moving average price of $43.87 and a 200 day moving average price of $31.51. The company has a market cap of $47.71 billion, a PE ratio of 91.64, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13.

Insider Buying and Selling at Robinhood Markets

In other news, insider Steven M. Quirk sold 19,861 shares of the firm’s stock in a transaction on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the sale, the insider now owns 395,166 shares in the company, valued at approximately $14,834,531.64. This trade represents a 4.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total transaction of $477,750.00. Following the completion of the transaction, the insider now owns 1,106,955 shares of the company’s stock, valued at $42,307,820.10. This trade represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,857,561 shares of company stock worth $159,976,719 over the last three months. 19.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC grew its position in Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after acquiring an additional 233 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock valued at $142,000 after purchasing an additional 277 shares during the last quarter. HM Payson & Co. raised its position in 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 purchasing an additional 410 shares during the period. Commerce Bank lifted its stake in Robinhood Markets by 3.3% in the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after purchasing an additional 423 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Robinhood Markets by 16.5% during the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after buying an additional 487 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

About Robinhood Markets

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.