Robinhood Markets (NASDAQ:HOOD) Shares Down 1.9% – Should You Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price fell 1.9% during mid-day trading on Tuesday . The company traded as low as $55.15 and last traded at $55.18. 6,082,139 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 20,180,012 shares. The stock had previously closed at $56.27.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays raised their target price on Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. raised shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $20.00 to $43.00 in a research report on Tuesday, January 7th. Citigroup boosted their target price on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Sanford C. Bernstein increased their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price target (up from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $46.67.

Robinhood Markets Stock Down 4.1 %

The firm has a 50 day moving average price of $43.87 and a 200 day moving average price of $31.51. The stock has a market capitalization of $47.71 billion, a PE ratio of 91.64, a P/E/G ratio of 0.73 and a beta of 2.13.

Insider Activity at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $51.60, for a total value of $1,290,000.00. Following the transaction, the insider now owns 706,642 shares in the company, valued at $36,462,727.20. The trade was a 3.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 3,857,561 shares of company stock valued at $159,976,719. 19.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Planning raised its stake in shares of Robinhood Markets by 142.8% during the 2nd quarter. Creative Planning now owns 26,290 shares of the company’s stock worth $597,000 after purchasing an additional 15,464 shares during the period. Cetera Investment Advisers boosted its stake in Robinhood Markets by 26.2% in the second quarter. Cetera Investment Advisers now owns 66,341 shares of the company’s stock valued at $1,507,000 after acquiring an additional 13,792 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Robinhood Markets by 71.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,923 shares of the company’s stock valued at $92,000 after acquiring an additional 1,633 shares during the period. CWM LLC increased its stake in shares of Robinhood Markets by 66.9% during the 3rd quarter. CWM LLC now owns 38,746 shares of the company’s stock worth $907,000 after purchasing an additional 15,524 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Robinhood Markets during the 3rd quarter worth approximately $89,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.