Robinhood Markets (NASDAQ:HOOD) Stock Price Down 3.5% – What’s Next?

by · The Cerbat Gem

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report) dropped 3.5% during mid-day trading on Monday . The company traded as low as $114.10 and last traded at $115.26. Approximately 28,184,838 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 39,194,059 shares. The stock had previously closed at $119.50.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Dbs Bank raised Robinhood Markets to a “moderate buy” rating in a research note on Wednesday, November 12th. The Goldman Sachs Group upped their price objective on Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a report on Monday, December 8th. Finally, Barclays upped their price target on Robinhood Markets from $168.00 to $171.00 and gave the company an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.32.

View Our Latest Analysis on HOOD

Robinhood Markets Stock Down 3.5%

The company has a market capitalization of $103.64 billion, a P/E ratio of 47.83, a P/E/G ratio of 2.40 and a beta of 2.43. The firm has a fifty day simple moving average of $132.04 and a 200-day simple moving average of $112.37.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the firm earned $0.17 EPS. Robinhood Markets’s quarterly revenue was up 100.0% compared to the same quarter last year. On average, sell-side analysts predict 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 Daniel Martin Gallagher, Jr. sold 120,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $132.13, for a total value of $15,855,600.00. Following the sale, the insider directly owned 430,012 shares of the company’s stock, valued at approximately $56,817,485.56. The trade was a 21.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 49,942 shares of the company’s stock in a transaction 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 completion of the transaction, the insider directly owned 54,496 shares of the company’s stock, valued at approximately $7,147,150.40. The trade was a 47.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,686,763 shares of company stock worth $475,858,262 over the last three months. 19.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors have recently bought and sold shares of the company. Valley National Advisers Inc. grew its stake in shares of Robinhood Markets by 113.6% during the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of Robinhood Markets by 107.6% in the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Vision Financial Markets LLC boosted its holdings in Robinhood Markets by 100.0% during the third quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Robinhood Markets in the third quarter valued at $29,000. Finally, Guerra Advisors Inc acquired a new stake in Robinhood Markets in the 3rd quarter valued at $30,000. Institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

(Get Free Report)

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.

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