Robinhood Markets (NASDAQ:HOOD) Stock Price Down 9.8% – Should You Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price was down 9.8% during mid-day trading on Thursday . The stock traded as low as $71.87 and last traded at $72.68. Approximately 54,693,270 shares were traded during mid-day trading, an increase of 104% from the average daily volume of 26,781,891 shares. The stock had previously closed at $80.62.

Wall Street Analyst Weigh In

HOOD has been the subject of several recent analyst reports. The Goldman Sachs Group restated a “buy” rating on shares of Robinhood Markets in a research note on Monday, January 5th. Zacks Research cut shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 price target on shares of Robinhood Markets in a report on Wednesday, January 28th. Finally, Mizuho raised their price target on shares of Robinhood Markets from $145.00 to $172.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $136.62.

Robinhood Markets Price Performance

The firm has a market cap of $65.35 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 1.36 and a beta of 2.43. The stock has a 50-day moving average price of $116.01 and a 200 day moving average price of $119.45.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.41 by $0.20. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The firm’s revenue was up 100.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $107.48, for a total value of $630,262.72. Following the completion of the sale, the chief technology officer owned 9,133 shares in the company, valued at approximately $981,614.84. This trade represents a 39.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 375,000 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $121.63, for a total transaction of $45,611,250.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,805,075 shares of company stock worth $347,653,564 over the last three months. 14.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors have recently modified their holdings of HOOD. Hantz Financial Services Inc. boosted its position in Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after purchasing an additional 148 shares in the last quarter. Valley National Advisers Inc. boosted its holdings in shares of Robinhood Markets by 113.6% during the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of Robinhood Markets by 152.6% in the fourth quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock valued at $26,000 after purchasing an additional 145 shares during the period. Golden State Wealth Management LLC grew its position in shares of Robinhood Markets by 107.6% in the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after purchasing an additional 99 shares during the period. Finally, Elyxium Wealth LLC acquired a new position in Robinhood Markets in the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

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.