Robinhood Markets (NASDAQ:HOOD) Trading Down 3.8% – Time to Sell?

by · The Cerbat Gem

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report) fell 3.8% during trading on Thursday . The company traded as low as $92.80 and last traded at $93.47. 22,830,526 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 30,505,648 shares. The stock had previously closed at $97.19.

Robinhood Markets News Roundup

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

Analyst Upgrades and Downgrades

HOOD has been the topic of several research reports. The Goldman Sachs Group boosted their price objective on shares of Robinhood Markets from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Citigroup reiterated a “market outperform” rating on shares of Robinhood Markets in a report on Thursday, May 28th. Morgan Stanley cut their price target on shares of Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating for the company in a research note on Friday, April 10th. JPMorgan Chase & Co. dropped their price objective on shares of Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Finally, Barclays decreased their price objective on Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.36.

Check Out Our Latest Report on Robinhood Markets

Robinhood Markets Trading Down 3.8%

The company’s 50-day simple moving average is $85.34 and its 200-day simple moving average is $90.62. The stock has a market capitalization of $84.17 billion, a price-to-earnings ratio of 45.15, a PEG ratio of 1.90 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.Robinhood Markets’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 earnings per share. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.8 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 10,837 shares of Robinhood Markets stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $85.91, for a total transaction of $931,006.67. Following the transaction, the insider directly owned 81,989 shares of the company’s stock, valued at $7,043,674.99. The trade was a 11.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka bought 250,000 shares of the stock in a transaction dated Friday, June 5th. The stock was purchased at an average price of $80.74 per share, with a total value of $20,185,000.00. Following the acquisition, the director owned 3,924,427 shares of the company’s stock, valued at $316,858,235.98. The trade was a 6.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 680,000 shares of company stock valued at $55,306,560 and have sold 633,484 shares valued at $47,542,923. Corporate insiders own 14.47% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sound Income Strategies LLC lifted its position in Robinhood Markets by 152.6% during the fourth quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock valued at $26,000 after purchasing an additional 145 shares during the last quarter. CYBER HORNET ETFs LLC boosted its position in Robinhood Markets by 527.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after buying an additional 190 shares during the period. Elyxium Wealth LLC purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $27,000. MV Capital Management Inc. purchased a new position in shares of Robinhood Markets in the 4th quarter valued at approximately $27,000. Finally, Swiss RE Ltd. purchased a new stake in Robinhood Markets in the fourth quarter worth about $27,000. 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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