Robinhood Markets (NASDAQ:HOOD) Stock Price Down 6.7%

Robinhood Markets, Inc. (NASDAQ:HOODGet Free Report)’s stock price fell 6.7% during mid-day trading on Tuesday . The company traded as low as $16.95 and last traded at $16.99. 3,523,726 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 15,220,842 shares. The stock had previously closed at $18.21.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HOOD. JPMorgan Chase & Co. boosted their target price on Robinhood Markets from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. Mizuho upped their price objective on Robinhood Markets from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday. JMP Securities upped their price objective on Robinhood Markets from $23.00 to $25.00 and gave the stock a “market outperform” rating in a report on Wednesday, February 14th. Redburn Atlantic initiated coverage on Robinhood Markets in a report on Friday, December 1st. They set a “neutral” rating and a $9.50 price objective on the stock. Finally, Barclays upped their price objective on Robinhood Markets from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Hold” and an average target price of $15.46.

Read Our Latest Report on HOOD

Robinhood Markets Price Performance

The company has a 50-day moving average price of $13.59 and a 200-day moving average price of $11.41.

Robinhood Markets (NASDAQ:HOODGet Free Report) last released its earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The firm had revenue of $471.00 million for the quarter, compared to the consensus estimate of $454.73 million. During the same period in the prior year, the business posted ($0.19) earnings per share. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $16.76, for a total transaction of $4,190,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $16.76, for a total transaction of $4,190,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason Warnick sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $12.43, for a total value of $62,150.00. Following the sale, the chief financial officer now owns 921,267 shares of the company’s stock, valued at $11,451,348.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,418,360 shares of company stock worth $34,245,776. 20.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently modified their holdings of the stock. LPL Financial LLC grew its stake in shares of Robinhood Markets by 1.4% in the second quarter. LPL Financial LLC now owns 59,900 shares of the company’s stock valued at $598,000 after buying an additional 828 shares in the last quarter. Commerce Bank grew its stake in shares of Robinhood Markets by 7.9% in the fourth quarter. Commerce Bank now owns 12,459 shares of the company’s stock valued at $159,000 after buying an additional 917 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Robinhood Markets by 4.7% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock valued at $310,000 after purchasing an additional 1,060 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Robinhood Markets by 3.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 29,314 shares of the company’s stock valued at $296,000 after purchasing an additional 1,082 shares in the last quarter. Finally, Creative Planning grew its stake in Robinhood Markets by 6.1% during the 4th quarter. Creative Planning now owns 19,830 shares of the company’s stock valued at $161,000 after purchasing an additional 1,146 shares in the last quarter. Institutional investors and hedge funds own 58.98% of the company’s stock.

Robinhood Markets Company Profile

(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.

Further Reading

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