Robinhood Markets (NASDAQ:HOOD) Shares Down 3% – Time to Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD) dropped 3% during mid-day trading on Wednesday . The stock traded as low as $115.59 and last traded at $115.80. Approximately 35,848,723 shares were traded during trading, a decline of 8% from the average daily volume of 39,105,238 shares. The stock had previously closed at $119.40.

Analyst Ratings Changes

Several research analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 target price on shares of Robinhood Markets in a report on Friday, December 5th. Barclays raised their price objective on shares of Robinhood Markets from $168.00 to $171.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Loop Capital set a $152.00 target price on shares of Robinhood Markets in a research note on Thursday, December 11th. JMP Securities lifted their price target on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, October 9th. Finally, Morgan Stanley upped their price target on Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.25.

Robinhood Markets Trading Down 3.0%

The firm’s fifty day moving average price is $130.95 and its 200 day moving average price is $113.12. The firm has a market capitalization of $104.13 billion, a PE ratio of 48.05, a PEG ratio of 2.32 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. The business’s quarterly revenue was up 100.0% compared to the same quarter last year. As a group, research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $132.13, for a total value of $15,855,600.00. Following the completion of the sale, the insider directly owned 430,012 shares in the company, valued at $56,817,485.56. The trade was a 21.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,686,763 shares of company stock worth $475,858,262 in the last ninety days. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors have recently bought and sold shares of the stock. Valley National Advisers Inc. increased its holdings in shares of Robinhood Markets by 113.6% during the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. Golden State Wealth Management LLC boosted its position in Robinhood Markets by 107.6% during the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after purchasing an additional 99 shares during the period. Vision Financial Markets LLC grew its holdings in Robinhood Markets by 100.0% during the third quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Robinhood Markets in the third quarter valued at approximately $29,000. Finally, Guerra Advisors Inc acquired a new stake in shares of Robinhood Markets in the third quarter worth $30,000. 93.27% of the stock is currently owned by 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.