Robinhood Markets (NASDAQ:HOOD) Shares Down 3% – Time to Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD) fell 3% on Wednesday . The stock traded as low as $115.59 and last traded at $115.80. 35,848,723 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 39,105,238 shares. The stock had previously closed at $119.40.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of recent research reports. Loop Capital set a $152.00 target price on Robinhood Markets in a research note on Thursday, December 11th. Citigroup lifted their price objective on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Robinhood Markets in a research note on Friday, December 5th. Bank of America dropped 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. Finally, Truist Financial assumed coverage on Robinhood Markets in a report on Wednesday. They set a “buy” rating and a $155.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.25.

Robinhood Markets Stock Performance

The business’s 50 day moving average price is $130.95 and its two-hundred day moving average price is $113.12. The company has a market capitalization of $104.13 billion, a price-to-earnings ratio of 48.05, a price-to-earnings-growth ratio of 2.32 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last announced its 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 firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The firm’s quarterly revenue was up 100.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 earnings per share. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was 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. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven M. Quirk sold 49,942 shares of Robinhood Markets stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $131.15, for a total value of $6,549,893.30. Following the transaction, the insider directly owned 54,496 shares in the company, valued at approximately $7,147,150.40. The trade was a 47.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 3,686,763 shares of company stock worth $475,858,262. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently made changes to their positions in HOOD. Hantz Financial Services Inc. boosted its holdings 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 buying an additional 148 shares in the last quarter. Valley National Advisers Inc. lifted its position in shares of Robinhood Markets by 113.6% during the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Robinhood Markets by 107.6% during the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after acquiring an additional 99 shares in the last quarter. Smithfield Trust Co acquired a new position in shares of Robinhood Markets in the 2nd quarter worth $29,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Robinhood Markets during the third quarter worth $29,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Company Profile

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.