Robinhood Markets (NASDAQ:HOOD) Stock Price Down 1.2% – Should You Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price was down 1.2% during mid-day trading on Tuesday . The stock traded as low as $118.05 and last traded at $121.70. Approximately 20,132,942 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 23,881,922 shares. The stock had previously closed at $123.24.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on HOOD shares. JMP Securities lifted their price target on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research report on Thursday, October 9th. CICC Research assumed coverage on Robinhood Markets in a research report on Monday, October 27th. They set an “outperform” rating and a $155.00 price objective for the company. Mizuho boosted their target price on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Loop Capital set a $152.00 price target on shares of Robinhood Markets in a research note on Thursday, December 11th. Finally, Compass Point reissued a “buy” rating on shares of Robinhood Markets in a research report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.80.

Robinhood Markets Price Performance

The business has a 50 day moving average price of $125.45 and a 200 day moving average price of $117.47. The stock has a market capitalization of $109.43 billion, a PE ratio of 50.50, a PEG ratio of 1.74 and a beta of 2.44.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.20. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.Robinhood Markets’s quarterly revenue was up 100.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $132.13, for a total transaction of $15,855,600.00. Following the sale, the insider owned 430,012 shares in the company, valued at $56,817,485.56. This represents a 21.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 1,330,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $128.47, for a total transaction of $170,865,100.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 2,905,899 shares of company stock valued at $366,476,943. Insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. North Star Investment Management Corp. boosted its stake in Robinhood Markets by 44.9% in the 3rd quarter. North Star Investment Management Corp. now owns 255 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares in the last quarter. First Command Advisory Services Inc. increased its stake in Robinhood Markets by 33.8% during the 3rd quarter. First Command Advisory Services Inc. now owns 321 shares of the company’s stock valued at $46,000 after purchasing an additional 81 shares in the last quarter. CogentBlue Wealth Advisors LLC increased its stake in Robinhood Markets by 3.8% during the 3rd quarter. CogentBlue Wealth Advisors LLC now owns 2,391 shares of the company’s stock valued at $342,000 after purchasing an additional 87 shares in the last quarter. ORG Partners LLC raised its holdings in shares of Robinhood Markets by 5.5% in the third quarter. ORG Partners LLC now owns 1,876 shares of the company’s stock worth $269,000 after buying an additional 97 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in shares of Robinhood Markets by 107.6% during the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.