Robinhood Markets (NASDAQ:HOOD) Stock Price Down 10.3% – Should You Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price was down 10.3% on Tuesday . The company traded as low as $44.02 and last traded at $44.79. Approximately 26,528,060 shares were traded during trading, an increase of 2% from the average daily volume of 25,932,127 shares. The stock had previously closed at $49.93.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of analyst reports. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. KeyCorp lifted their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Sanford C. Bernstein boosted their target price on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, JMP Securities upped their target price on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.53.

Robinhood Markets Stock Performance

The stock has a 50-day moving average of $47.55 and a two-hundred day moving average of $34.26. The company has a market cap of $40.74 billion, a P/E ratio of 29.40, a P/E/G ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven M. Quirk sold 19,861 shares of the firm’s stock in a transaction on Sunday, December 1st. The stock was sold at an average price of $37.54, for a total transaction of $745,581.94. Following the completion of the sale, the insider now directly owns 395,166 shares in the company, valued at approximately $14,834,531.64. This trade represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,520,607 shares of company stock worth $200,784,430 in the last ninety days. 19.95% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

Institutional investors have recently modified their holdings of the company. Toronto Dominion Bank raised its position in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after purchasing an additional 16,219 shares during the last quarter. Everence Capital Management Inc. bought a new position in Robinhood Markets in the fourth quarter worth $634,000. Atomi Financial Group Inc. boosted its holdings in shares of Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after buying an additional 92,613 shares in the last quarter. Requisite Capital Management LLC bought a new stake in Robinhood Markets during the fourth quarter worth about $266,000. Finally, Baker Avenue Asset Management LP grew its holdings in Robinhood Markets by 77.9% in the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after purchasing an additional 203,354 shares during the period. 93.27% of the stock is currently 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.