Robinhood Markets (NASDAQ:HOOD) Trading Down 1.5% – Should You Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares fell 1.5% on Tuesday . The stock traded as low as $99.66 and last traded at $100.28. Approximately 17,125,939 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 30,438,840 shares. The stock had previously closed at $101.83.

Key Stories Impacting Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Deutsche Bank raised its price target on Robinhood Markets (HOOD) to $113 from $105 and reiterated a buy rating, signaling confidence that the shares can still move higher. Deutsche Bank raises Robinhood price target
• Positive Sentiment: Goldman Sachs also increased its target to $121 from $108 and kept a buy rating, adding to the recent bullish analyst momentum around HOOD. Goldman Sachs raises Robinhood price target
• Positive Sentiment: June trading activity hit new highs, suggesting stronger platform engagement and potentially higher transaction-related revenue for Robinhood. Robinhood Shares Gain as June Trading Activity Reaches New Highs
• Positive Sentiment: Some market commentary says Robinhood has rebounded sharply in June and could have more upside, with investors also viewing its expanding product lineup as a growth driver. With Robinhood Rebounding, This ETF Looks Interesting
• Neutral Sentiment: Coverage around Robinhood’s “super app” vision highlights potential growth across crypto, credit cards, retirement and global expansion, but also notes that valuation and regulatory risks remain key questions. Robinhood’s Super App Ambition
• Neutral Sentiment: Robinhood’s CFO stepping down from the public-association officer role appears more like an internal management update than a material business catalyst. Robinhood CFO hands off PAO role

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of recent analyst reports. Truist Financial reduced their price target on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Citizens Jmp reissued a “market outperform” rating and issued a $155.00 price objective on shares of Robinhood Markets in a research report on Thursday, May 28th. New Street Research set a $122.00 target price on Robinhood Markets in a research note on Thursday, March 5th. Argus upped their target price on Robinhood Markets from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $130.00 price target on shares of Robinhood Markets in a research note on Tuesday, April 14th. Twenty equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $114.35.

Robinhood Markets Trading Down 1.5%

The company has a market cap of $90.30 billion, a PE ratio of 48.44, a P/E/G ratio of 2.32 and a beta of 2.35. The firm’s 50-day simple moving average is $86.15 and its two-hundred day simple moving average is $89.85.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. As a group, analysts predict that Robinhood Markets, Inc. will post 1.81 EPS for the current year.

Insider Buying and Selling

In other news, insider Steven M. Quirk sold 10,837 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $85.91, for a total value of $931,006.67. Following the transaction, the insider directly owned 81,989 shares of the company’s stock, valued at approximately $7,043,674.99. This represents a 11.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka acquired 250,000 shares of Robinhood Markets stock in a transaction dated Friday, June 5th. The stock was purchased at an average price of $80.74 per share, with a total value of $20,185,000.00. Following the completion of the purchase, the director owned 3,924,427 shares of the company’s stock, valued at approximately $316,858,235.98. The trade was a 6.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 680,000 shares of company stock worth $55,306,560 and have sold 633,484 shares worth $47,542,923. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Evolution Wealth Advisors LLC raised its position in Robinhood Markets by 5.2% during the fourth quarter. Evolution Wealth Advisors LLC now owns 1,916 shares of the company’s stock worth $217,000 after acquiring an additional 95 shares during the period. CogentBlue Wealth Advisors LLC grew its position in shares of Robinhood Markets by 4.1% in the fourth quarter. CogentBlue Wealth Advisors LLC now owns 2,489 shares of the company’s stock valued at $282,000 after purchasing an additional 98 shares during the period. SOA Wealth Advisors LLC. grew its position in shares of Robinhood Markets by 11.5% in the fourth quarter. SOA Wealth Advisors LLC. now owns 968 shares of the company’s stock valued at $109,000 after purchasing an additional 100 shares during the period. Barnes Dennig Private Wealth Management LLC increased its stake in shares of Robinhood Markets by 10.2% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 1,210 shares of the company’s stock worth $137,000 after purchasing an additional 112 shares in the last quarter. Finally, Bogart Wealth LLC increased its stake in shares of Robinhood Markets by 8.5% during the fourth quarter. Bogart Wealth LLC now owns 1,463 shares of the company’s stock worth $165,000 after purchasing an additional 114 shares in the last quarter. 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.