Robinhood Markets (NASDAQ:HOOD) Shares Down 5.9% – Here’s Why

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price was down 5.9% during mid-day trading on Wednesday . The company traded as low as $41.53 and last traded at $41.48. Approximately 16,765,732 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 23,958,424 shares. The stock had previously closed at $44.08.

Analyst Ratings Changes

A number of analysts recently weighed in on HOOD shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Mizuho boosted their target price on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Barclays lowered their price target on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Morgan Stanley downgraded shares of Robinhood Markets from an “overweight” rating to an “equal weight” rating and set a $40.00 target price on the stock. in a research note on Tuesday, April 8th. Finally, KeyCorp lifted their price target on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.06.

Robinhood Markets Stock Performance

The stock has a market cap of $35.74 billion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The firm has a 50-day moving average price of $46.06 and a 200-day moving average price of $39.79.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the sale, the chief technology officer now directly owns 5,853 shares in the company, valued at approximately $201,987.03. This trade represents a 50.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 90,866 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $50.67, for a total value of $4,604,180.22. Following the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $255,478.14. The trade was a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,561,121 shares of company stock valued at $128,692,730 in the last ninety days. 19.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently bought and sold shares of HOOD. IFP Advisors Inc raised its holdings in shares of Robinhood Markets by 601.1% during the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock valued at $164,000 after purchasing an additional 3,769 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in Robinhood Markets during the 4th quarter valued at $634,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Robinhood Markets by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after buying an additional 138,267 shares during the period. Atomi Financial Group Inc. boosted its stake in shares of Robinhood Markets by 20.7% in the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after buying an additional 92,613 shares during the last quarter. Finally, Requisite Capital Management LLC bought a new stake in shares of Robinhood Markets in the fourth quarter worth $266,000. 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.