Robinhood Markets (NASDAQ:HOOD) Shares Down 2.7% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD) was down 2.7% during trading on Tuesday . The company traded as low as $104.45 and last traded at $105.78. Approximately 23,320,453 shares traded hands during mid-day trading, an increase of 3% from the average daily volume of 22,611,756 shares. The stock had previously closed at $108.74.

Analyst Ratings Changes

HOOD has been the subject of several analyst reports. Barclays lowered their price target on shares of Robinhood Markets from $171.00 to $159.00 and set an “overweight” rating for the company in a report on Thursday, January 8th. Mizuho increased their price target on Robinhood Markets from $145.00 to $172.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. KeyCorp boosted their price objective on Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. CICC Research assumed coverage on Robinhood Markets in a report on Monday, October 27th. They issued an “outperform” rating and a $155.00 target price for the company. Finally, Needham & Company LLC cut their price target on Robinhood Markets from $145.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $136.62.

Robinhood Markets Stock Performance

The business has a fifty day moving average of $120.63 and a 200-day moving average of $119.51. The company has a market capitalization of $95.12 billion, a P/E ratio of 43.89, a PEG ratio of 1.73 and a beta of 2.44.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business’s quarterly revenue was up 100.0% compared to the same quarter last year. During the same period last year, the firm earned $0.17 earnings per share. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $121.58, for a total value of $1,215,800.00. Following the completion of the sale, the insider owned 403,612 shares in the company, valued at $49,071,146.96. This represents a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $121.59, for a total transaction of $713,003.76. Following the transaction, the chief technology officer directly owned 14,997 shares in the company, valued at $1,823,485.23. The trade was a 28.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,878,425 shares of company stock worth $358,332,025. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Coordinated Financial Services Inc. purchased a new position in shares of Robinhood Markets in the second quarter worth about $403,000. Venture Visionary Partners LLC boosted its holdings in Robinhood Markets by 63.0% in the 2nd quarter. Venture Visionary Partners LLC now owns 125,420 shares of the company’s stock worth $11,743,000 after buying an additional 48,494 shares during the period. Allstate Corp bought a new stake in Robinhood Markets during the 3rd quarter valued at $3,860,000. Generali Asset Management SPA SGR purchased a new stake in shares of Robinhood Markets during the third quarter worth $2,375,000. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Robinhood Markets by 8.5% in the third quarter. Asset Management One Co. Ltd. now owns 304,424 shares of the company’s stock worth $43,587,000 after acquiring an additional 23,737 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.