Robinhood Markets (NASDAQ:HOOD) Shares Down 1.9% – Time to Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares fell 1.9% during trading on Friday . The company traded as low as $117.70 and last traded at $118.13. Approximately 12,711,371 shares changed hands during trading, a decline of 67% from the average session volume of 38,588,574 shares. The stock had previously closed at $120.44.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several analyst reports. Bank of America decreased their price target on shares of Robinhood Markets from $166.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Citigroup boosted their price target on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Truist Financial started coverage on Robinhood Markets in a report on Wednesday, December 17th. They set a “buy” rating and a $155.00 price objective on the stock. CICC Research started coverage on Robinhood Markets in a research note on Monday, October 27th. They issued an “outperform” rating and a $155.00 price target on the stock. Finally, Barclays lifted their price target on Robinhood Markets from $168.00 to $171.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus target price of $137.30.

Robinhood Markets Stock Down 1.9%

The company’s fifty day moving average is $128.03 and its 200 day moving average is $114.87. The stock has a market cap of $106.22 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 2.20 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm posted $0.17 EPS. The business’s revenue for the quarter was up 100.0% compared to the same quarter last year. Equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $122.39, for a total transaction of $717,694.96. Following the transaction, the chief technology officer directly owned 20,861 shares of the company’s stock, valued at approximately $2,553,177.79. The trade was a 21.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $132.13, for a total transaction of $15,855,600.00. Following the completion of the transaction, the insider owned 430,012 shares of the company’s stock, valued at $56,817,485.56. This trade represents a 21.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,686,763 shares of company stock worth $475,848,059 in the last ninety days. 14.47% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Robinhood Markets by 24.9% during the 3rd quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock valued at $13,521,497,000 after buying an additional 18,824,923 shares during the last quarter. State Street Corp grew its holdings in Robinhood Markets by 103.2% during the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company’s stock worth $4,617,004,000 after acquiring an additional 16,375,734 shares in the last quarter. Geode Capital Management LLC grew its holdings in Robinhood Markets by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock worth $1,233,840,000 after acquiring an additional 507,926 shares in the last quarter. WCM Investment Management LLC increased its position in shares of Robinhood Markets by 3,615.7% in the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after purchasing an additional 11,244,182 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Robinhood Markets during the second quarter worth about $973,122,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.