Robinhood Markets (NASDAQ:HOOD) Shares Down 2.3% Following Analyst Downgrade

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price fell 2.3% during mid-day trading on Monday after Needham & Company LLC lowered their price target on the stock from $70.00 to $62.00. Needham & Company LLC currently has a buy rating on the stock. Robinhood Markets traded as low as $38.84 and last traded at $40.97. 16,883,134 shares were traded during mid-day trading, a decline of 23% from the average session volume of 21,804,656 shares. The stock had previously closed at $41.92.

HOOD has been the subject of a number of other reports. Mizuho boosted their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. JMP Securities lifted their target price on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Citigroup upped their price target on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their target price on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average target price of $60.82.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 522,180 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the completion of the sale, the director now owns 5,042 shares of the company’s stock, valued at $316,133.40. This trade represents a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,955,655 shares of company stock valued at $143,072,448. Insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets in the 4th quarter worth approximately $26,000. CoreCap Advisors LLC boosted its position in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV boosted its position in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of Robinhood Markets by 139.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock worth $36,000 after purchasing an additional 498 shares in the last quarter. Finally, Colonial Trust Co SC bought a new stake in shares of Robinhood Markets during the 4th quarter valued at $34,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Trading Up 1.3 %

The company has a market cap of $37.33 billion, a PE ratio of 26.85, a PEG ratio of 1.05 and a beta of 2.14. The business’s 50 day moving average is $48.88 and its two-hundred day moving average is $38.60.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

About Robinhood Markets

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.