Robinhood Markets (NASDAQ:HOOD) Trading Down 6.2% – Here’s Why

Robinhood Markets, Inc. (NASDAQ:HOOD) shares traded down 6.2% during mid-day trading on Tuesday . The stock traded as low as $40.34 and last traded at $40.53. 10,221,125 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 16,865,992 shares. The stock had previously closed at $43.20.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HOOD. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Barclays upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $26.00 to $49.00 in a research report on Monday, December 9th. Piper Sandler increased their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Citigroup upped their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Finally, Sanford C. Bernstein lifted their price objective on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.13.

Robinhood Markets Trading Up 3.3 %

The company’s 50 day moving average is $32.64 and its 200-day moving average is $25.42. The stock has a market cap of $33.86 billion, a PE ratio of 64.92, a P/E/G ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same quarter last year, the business earned ($0.09) EPS. Robinhood Markets’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, analysts forecast that Robinhood Markets, Inc. will post 0.8 EPS for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $22.88, for a total transaction of $5,720,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of Robinhood Markets stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $23.42, for a total transaction of $545,522.06. Following the completion of the transaction, the insider now directly owns 1,070,000 shares of the company’s stock, valued at $25,059,400. This trade represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,037,689 shares of company stock valued at $177,092,487. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently bought and sold shares of the business. HM Payson & Co. lifted its holdings in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares during the last quarter. Eastern Bank bought a new stake in Robinhood Markets in the third quarter valued at $30,000. True Wealth Design LLC acquired a new position in shares of Robinhood Markets during the third quarter valued at $30,000. ORG Wealth Partners LLC bought a new position in shares of Robinhood Markets during the third quarter worth about $33,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter worth about $40,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

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.