Robinhood Markets (NASDAQ:HOOD) Shares Down 5.7% – Time to Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price was down 5.7% during trading on Monday . The stock traded as low as $71.42 and last traded at $71.78. Approximately 29,975,613 shares changed hands during trading, a decline of 4% from the average daily volume of 31,168,832 shares. The stock had previously closed at $76.11.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HOOD shares. Sanford C. Bernstein reissued an “outperform” rating on shares of Robinhood Markets in a research note on Wednesday, February 11th. Keefe, Bruyette & Woods boosted their price objective on Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a research report on Thursday, November 6th. Morgan Stanley increased their price objective on Robinhood Markets from $146.00 to $147.00 and gave the stock an “equal weight” rating in a report on Monday, December 22nd. CICC Research initiated coverage on Robinhood Markets in a research note on Monday, October 27th. They set an “outperform” rating and a $155.00 target price on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Robinhood Markets in a research note on Monday, December 22nd. Seventeen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $121.71.

Robinhood Markets Stock Down 5.7%

The business has a 50-day simple moving average of $103.45 and a two-hundred day simple moving average of $117.33. The stock has a market capitalization of $64.54 billion, a price-to-earnings ratio of 34.84, a P/E/G ratio of 1.30 and a beta of 2.44.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Robinhood Markets had a return on equity of 22.32% and a net margin of 42.10%.The firm’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same period last year, the firm earned $1.01 EPS. On average, analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company’s stock in a transaction dated 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 directly owned 9,133 shares of the company’s stock, valued at approximately $981,614.84. This represents a 39.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 52,540 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $87.81, for a total transaction of $4,613,537.40. Following the completion of the transaction, the insider directly owned 27,564 shares in the company, valued at $2,420,394.84. This represents a 65.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 696,413 shares of company stock valued at $84,031,209 in the last quarter. 19.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Valley National Advisers Inc. boosted its position in shares of Robinhood Markets by 113.6% in the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Golden State Wealth Management LLC increased its stake in Robinhood Markets by 107.6% in the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after buying an additional 99 shares during the period. Vision Financial Markets LLC increased its stake in shares of Robinhood Markets by 100.0% in the third quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Robinhood Markets in the 3rd quarter worth about $29,000. Finally, Guerra Advisors Inc acquired a new position in Robinhood Markets in the third quarter worth approximately $30,000. 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.