Robinhood Markets (NASDAQ:HOOD) Shares Down 0.2% – Should You Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares were down 0.2% on Thursday . The company traded as low as $38.80 and last traded at $39.50. Approximately 2,954,574 shares changed hands during trading, a decline of 83% from the average daily volume of 17,011,840 shares. The stock had previously closed at $39.58.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. KeyCorp upped their price objective on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. JMP Securities increased their price target on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Sanford C. Bernstein lifted their price objective on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $24.00 to $55.00 in a report on Monday, November 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.20.

Robinhood Markets Price Performance

The firm has a market capitalization of $34.49 billion, a price-to-earnings ratio of 66.14, a PEG ratio of 0.76 and a beta of 2.09. The stock has a 50 day moving average price of $34.36 and a two-hundred day moving average price of $26.21.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business’s revenue was up 36.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.09) earnings per share. As a group, research analysts expect that Robinhood Markets, Inc. will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $23.42, for a total transaction of $545,522.06. Following the completion of the transaction, the insider now directly owns 1,070,000 shares of the company’s stock, valued at $25,059,400. The trade was a 2.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $22.88, for a total value of $5,720,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 6,343,565 shares of company stock valued at $188,568,305 in the last ninety days. Company insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HOOD. FMR LLC raised its holdings in shares of Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares in the last quarter. State Street Corp lifted its holdings in Robinhood Markets by 8.7% during the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after buying an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Robinhood Markets by 19.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after buying an additional 1,895,427 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Robinhood Markets by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after acquiring an additional 2,094,800 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Robinhood Markets by 33.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after acquiring an additional 1,137,677 shares during the last quarter. 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.