Robinhood Markets (NASDAQ:HOOD) Shares Down 3.2% – Time to Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price fell 3.2% on Wednesday . The stock traded as low as $108.25 and last traded at $108.54. 13,181,463 shares changed hands during trading, a decline of 53% from the average session volume of 28,100,340 shares. The stock had previously closed at $112.09.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of recent analyst reports. Needham & Company LLC lowered their price target on shares of Robinhood Markets from $123.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. China Renaissance began coverage on shares of Robinhood Markets in a research report on Tuesday, July 7th. They set a “buy” rating on the stock. The Goldman Sachs Group cut their price objective on shares of Robinhood Markets from $137.00 to $118.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Argus upped their price objective on shares of Robinhood Markets from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Finally, Cantor Fitzgerald lowered their target price on shares of Robinhood Markets from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Twenty-one research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $120.52.

Robinhood Markets Price Performance

The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The stock’s 50-day simple moving average is $101.54 and its two-hundred day simple moving average is $86.98. The company has a market capitalization of $98.68 billion, a price-to-earnings ratio of 48.35, a PEG ratio of 1.98 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.18. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the firm posted $0.42 earnings per share. The company’s revenue was up 32.5% compared to the same quarter last year. Equities research analysts predict that Robinhood Markets, Inc. will post 2.04 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $116.14, for a total value of $1,161,400.00. Following the sale, the insider directly owned 471,396 shares in the company, valued at approximately $54,747,931.44. The trade was a 2.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Tenev sold 375,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $116.17, for a total value of $43,563,750.00. Following the sale, the chief executive officer owned 375,000 shares of the company’s stock, valued at approximately $43,563,750. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 612,704 shares of company stock worth $66,675,612 in the last three months. 13.48% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

Institutional investors have recently made changes to their positions in the company. CYBER HORNET ETFs LLC boosted its stake in Robinhood Markets by 527.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares during the last quarter. MV Capital Management Inc. acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $27,000. Swiss RE Ltd. purchased a new position in shares of Robinhood Markets in the fourth quarter worth about $27,000. Elyxium Wealth LLC purchased a new position in shares of Robinhood Markets in the fourth quarter worth about $27,000. Finally, Cornerstone Planning Group LLC boosted its position in Robinhood Markets by 90.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 268 shares of the company’s stock worth $28,000 after acquiring an additional 127 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Company Profile

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.