Robinhood Markets (NASDAQ:HOOD) Stock Price Down 0.1% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares traded down 0.1% during trading on Friday . The company traded as low as $52.72 and last traded at $52.97. 4,174,021 shares were traded during mid-day trading, a decline of 80% from the average session volume of 20,568,123 shares. The stock had previously closed at $53.00.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Piper Sandler raised their target price on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. Citigroup raised their price target on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Finally, Sanford C. Bernstein raised their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.

Robinhood Markets Price Performance

The firm’s 50-day moving average is $41.58 and its two-hundred day moving average is $29.90. The company has a market cap of $46.19 billion, a P/E ratio of 88.57, a PEG ratio of 0.69 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) EPS. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 0.97 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 19,861 shares of the business’s stock in a transaction on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the sale, the insider now directly owns 395,166 shares of the company’s stock, valued at $14,834,531.64. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,297,400 shares of company stock valued at $170,630,852 over the last three months. 19.95% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

Hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank raised its holdings in Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after purchasing an additional 16,219 shares in the last quarter. Everence Capital Management Inc. bought a new position in Robinhood Markets in the fourth quarter worth about $634,000. Atomi Financial Group Inc. raised its holdings in Robinhood Markets by 20.7% in the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after purchasing an additional 92,613 shares in the last quarter. Requisite Capital Management LLC acquired a new position in shares of Robinhood Markets during the fourth quarter valued at about $266,000. Finally, Baker Avenue Asset Management LP raised its position in shares of Robinhood Markets by 77.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after purchasing an additional 203,354 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.