Robinhood Markets (NASDAQ:HOOD) Shares Down 1% – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price traded down 1% on Tuesday . The stock traded as low as $77.66 and last traded at $78.53. 22,539,422 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 30,480,629 shares. The stock had previously closed at $79.35.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HOOD. Dbs Bank upgraded shares of Robinhood Markets to a “moderate buy” rating in a report on Wednesday, November 12th. Truist Financial dropped their price target on Robinhood Markets from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. The Goldman Sachs Group cut their price target on Robinhood Markets from $152.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Bank of America dropped their target price on Robinhood Markets from $166.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Finally, Cantor Fitzgerald reduced their price target on Robinhood Markets from $130.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. Seventeen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.73.

Robinhood Markets Price Performance

The firm’s 50 day moving average is $92.91 and its two-hundred day moving average is $114.26. The firm has a market capitalization of $68.12 billion, a P/E ratio of 36.77, a PEG ratio of 1.77 and a beta of 2.47.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.32 billion. Robinhood Markets had a net margin of 42.10% and a return on equity of 22.32%. The company’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 EPS. Analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $107.48, for a total value of $630,262.72. Following the sale, the chief technology officer owned 9,133 shares in the company, valued at approximately $981,614.84. This represents a 39.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven M. Quirk sold 52,540 shares of Robinhood Markets stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $87.81, for a total transaction of $4,613,537.40. Following the transaction, the insider directly owned 27,564 shares of the company’s stock, valued at approximately $2,420,394.84. This trade represents a 65.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 475,132 shares of company stock worth $55,127,149 over the last ninety days. 14.47% of the stock is currently owned by corporate insiders.

Institutional Trading of Robinhood Markets

A number of hedge funds have recently modified their holdings of HOOD. Valley National Advisers Inc. grew its position in shares of Robinhood Markets by 113.6% in the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Robinhood Markets by 152.6% in the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock valued at $26,000 after purchasing an additional 145 shares during the period. CYBER HORNET ETFs LLC grew its holdings in Robinhood Markets by 527.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after buying an additional 190 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in Robinhood Markets by 107.6% in the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after buying an additional 99 shares in the last quarter. Finally, Elyxium Wealth LLC bought a new position in Robinhood Markets during the 4th quarter worth $27,000. Institutional investors and hedge funds 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.