Robinhood Markets (NASDAQ:HOOD) Trading Down 0.8% – What’s Next?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares were down 0.8% during mid-day trading on Wednesday . The company traded as low as $44.92 and last traded at $45.85. Approximately 9,977,221 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 29,303,730 shares. The stock had previously closed at $46.22.

Analysts Set New Price Targets

A number of equities analysts have commented on HOOD shares. Wolfe Research downgraded shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lifted their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Raymond James assumed coverage on Robinhood Markets in a research report on Wednesday, February 5th. They issued a “market perform” rating for the company. Piper Sandler lifted their target price on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley increased their price target on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.53.

Robinhood Markets Stock Up 0.7 %

The firm has a market cap of $41.20 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13. The business has a 50-day moving average price of $48.67 and a two-hundred day moving average price of $35.48.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping 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%. On average, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Baiju Bhatt sold 186,514 shares of Robinhood Markets stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total value of $7,111,778.82. Following the sale, the director now directly owns 2,521 shares of the company’s stock, valued at $96,125.73. This trade represents a 98.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,140,788 shares of company stock valued at $148,067,678 over the last 90 days. 19.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently made changes to their positions in HOOD. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets during the fourth quarter worth approximately $26,000. True Wealth Design LLC purchased a new position in shares of Robinhood Markets in the 3rd quarter valued at $30,000. CoreCap Advisors LLC raised its stake in Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after acquiring an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its position in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after acquiring an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC acquired a new position in Robinhood Markets in the fourth quarter valued at $34,000. Institutional investors and hedge funds 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.