Robinhood Markets (NASDAQ:HOOD) Shares Down 1.9% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD) was down 1.9% during mid-day trading on Friday . The stock traded as low as $117.70 and last traded at $118.13. Approximately 12,711,371 shares traded hands during trading, a decline of 67% from the average daily volume of 38,588,574 shares. The stock had previously closed at $120.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HOOD shares. Barclays boosted their price target on Robinhood Markets from $168.00 to $171.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Robinhood Markets in a report on Monday. The Goldman Sachs Group lifted their price target on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Morgan Stanley increased their price objective on shares of Robinhood Markets from $146.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Loop Capital set a $152.00 target price on Robinhood Markets in a report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $137.30.

Robinhood Markets Stock Performance

The firm has a market capitalization of $106.22 billion, a P/E ratio of 49.02, a price-to-earnings-growth ratio of 2.20 and a beta of 2.43. The business has a fifty day moving average of $128.03 and a 200-day moving average of $114.87.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm posted $0.17 EPS. The firm’s quarterly revenue was up 100.0% on a year-over-year basis. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, insider Steven M. Quirk sold 49,942 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $131.15, for a total transaction of $6,549,893.30. Following the sale, the insider owned 54,496 shares of the company’s stock, valued at $7,147,150.40. The trade was a 47.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The SEC filing for this sale provides additional information. Insiders sold a total of 3,686,763 shares of company stock worth $475,848,059 in the last 90 days. Corporate insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in Robinhood Markets by 18.8% in the 1st quarter. American Century Companies Inc. now owns 108,053 shares of the company’s stock valued at $4,497,000 after acquiring an additional 17,131 shares during the last quarter. Wellington Management Group LLP lifted its stake in Robinhood Markets by 3.1% during the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock valued at $677,000 after purchasing an additional 486 shares during the last quarter. Kestra Advisory Services LLC boosted its holdings in Robinhood Markets by 213.6% during the first quarter. Kestra Advisory Services LLC now owns 58,421 shares of the company’s stock worth $2,431,000 after buying an additional 39,792 shares in the last quarter. Synovus Financial Corp bought a new stake in Robinhood Markets during the first quarter worth approximately $534,000. Finally, Freedom Investment Management Inc. acquired a new position in Robinhood Markets in the first quarter worth approximately $215,000. Institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.