Robinhood Markets (NASDAQ:HOOD) Trading Down 1.8%

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) traded down 1.8% during trading on Wednesday . The stock traded as low as $21.80 and last traded at $21.86. 10,181,103 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 20,333,678 shares. The stock had previously closed at $22.25.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HOOD shares. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research report on Thursday, June 6th. JMP Securities reissued a “market outperform” rating and set a $30.00 price objective on shares of Robinhood Markets in a report on Friday, June 7th. Keefe, Bruyette & Woods initiated coverage on Robinhood Markets in a research note on Wednesday, April 3rd. They issued a “market perform” rating and a $20.00 target price on the stock. Piper Sandler upped their price target on Robinhood Markets from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets presently has an average rating of “Hold” and a consensus price target of $20.18.

Robinhood Markets Stock Down 0.6 %

The business’s 50-day moving average price is $19.42 and its 200 day moving average price is $15.92. The company has a market capitalization of $19.10 billion, a P/E ratio of 144.87 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.05 by $0.13. The firm had revenue of $618.00 million during the quarter, compared to the consensus estimate of $552.74 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The business’s quarterly revenue was up 40.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.57) EPS. Analysts anticipate that Robinhood Markets, Inc. will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 116,669 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $22.02, for a total transaction of $2,569,051.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Jason Warnick sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $16.72, for a total value of $83,600.00. Following the completion of the sale, the chief financial officer now owns 997,407 shares in the company, valued at approximately $16,676,645.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Baiju Bhatt sold 116,669 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $22.02, for a total transaction of $2,569,051.38. The disclosure for this sale can be found here. Insiders sold a total of 1,365,507 shares of company stock worth $25,995,973 over the last ninety days. 19.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently bought and sold shares of HOOD. HighTower Advisors LLC grew its position in shares of Robinhood Markets by 19.9% in the 3rd quarter. HighTower Advisors LLC now owns 74,250 shares of the company’s stock worth $729,000 after buying an additional 12,318 shares during the last quarter. Deutsche Bank AG increased its position in Robinhood Markets by 674.6% during the 3rd quarter. Deutsche Bank AG now owns 373,183 shares of the company’s stock valued at $3,661,000 after purchasing an additional 325,007 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Robinhood Markets in the 3rd quarter worth $220,000. Korea Investment CORP purchased a new stake in shares of Robinhood Markets in the 3rd quarter worth about $1,167,000. Finally, QRG Capital Management Inc. bought a new stake in shares of Robinhood Markets during the 3rd quarter valued at about $103,000. 93.27% of the stock is owned by hedge funds and other 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.