Robinhood Markets (NASDAQ:HOOD) Trading Down 3.1% – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOODGet Free Report) was down 3.1% during mid-day trading on Tuesday . The company traded as low as $76.48 and last traded at $78.27. Approximately 16,960,300 shares were traded during trading, a decline of 44% from the average daily volume of 30,239,406 shares. The stock had previously closed at $80.78.

Robinhood Markets News Summary

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HOOD shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 price objective on shares of Robinhood Markets in a report on Wednesday, April 29th. Barclays reduced their price objective on shares of Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Keefe, Bruyette & Woods reduced their price objective on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a report on Wednesday, April 29th. KeyCorp cut their price target on shares of Robinhood Markets from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Finally, Wolfe Research upgraded shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective for the company in a research note on Monday, February 9th. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $107.88.

Get Our Latest Report on Robinhood Markets

Robinhood Markets Trading Up 5.1%

The company’s fifty day moving average is $76.56 and its 200 day moving average is $99.04. The company has a market capitalization of $72.67 billion, a P/E ratio of 38.99, a P/E/G ratio of 2.51 and a beta of 2.29.

Robinhood Markets (NASDAQ:HOODGet Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the business posted $0.37 earnings per share. Equities research analysts predict that Robinhood Markets, Inc. will post 1.86 EPS for the current year.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,835 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $69.85, for a total value of $407,574.75. Following the completion of the transaction, the chief technology officer directly owned 18,006 shares of the company’s stock, valued at approximately $1,257,719.10. This trade represents a 24.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 8,540 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $84.93, for a total transaction of $725,302.20. Following the completion of the transaction, the insider directly owned 53,183 shares of the company’s stock, valued at approximately $4,516,832.19. This trade represents a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 487,907 shares of company stock worth $35,444,040 in the last 90 days. 14.47% of the stock is currently owned by company insiders.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Caisse Des Depots ET Consignations bought a new position in Robinhood Markets in the third quarter valued at $3,984,000. Aberdeen Group plc grew its holdings in shares of Robinhood Markets by 565.1% during the 3rd quarter. Aberdeen Group plc now owns 185,538 shares of the company’s stock valued at $26,565,000 after purchasing an additional 157,643 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Robinhood Markets during the 3rd quarter valued at $322,823,000. NEOS Investment Management LLC bought a new position in shares of Robinhood Markets during the 3rd quarter valued at $11,994,000. Finally, New York Life Investment Management LLC bought a new position in shares of Robinhood Markets during the 3rd quarter valued at $14,989,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

(Get Free Report)

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.

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