Robinhood Markets (NASDAQ:HOOD) Shares Down 0% – Here’s Why

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) were down 0% on Friday . The stock traded as low as $40.08 and last traded at $40.51. Approximately 15,458,340 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 23,596,731 shares. The stock had previously closed at $40.51.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Mizuho boosted their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Wolfe Research downgraded Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Piper Sandler upped their price objective on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Morgan Stanley downgraded Robinhood Markets from an “overweight” rating to an “equal weight” rating and set a $40.00 target price for the company. in a report on Tuesday. Finally, Citigroup decreased their target price on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.06.

Robinhood Markets Price Performance

The stock has a market cap of $38.04 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The firm’s 50-day moving average is $46.63 and its 200 day moving average is $39.35.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) 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%. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $50.77, for a total value of $25,385,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 90,866 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $50.67, for a total value of $4,604,180.22. Following the transaction, the director now owns 5,042 shares in the company, valued at $255,478.14. This trade represents a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,651,987 shares of company stock worth $132,806,233. Insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of institutional investors and hedge funds have recently modified their holdings of HOOD. FMR LLC lifted its holdings in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after acquiring an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC increased its position in Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock worth $900,159,000 after buying an additional 273,860 shares during the period. Geode Capital Management LLC lifted its stake in Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock valued at $455,464,000 after buying an additional 555,299 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after acquiring an additional 3,091,514 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of Robinhood Markets by 0.5% during the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company’s stock worth $398,667,000 after acquiring an additional 52,700 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.