Robinhood Markets (NASDAQ:HOOD) Trading Down 1.9% – Time to Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price dropped 1.9% during trading on Friday . The company traded as low as $117.70 and last traded at $118.13. Approximately 12,711,371 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 38,588,574 shares. The stock had previously closed at $120.44.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their price target on Robinhood Markets from $146.00 to $147.00 and gave the company an “equal weight” rating in a report on Monday, December 22nd. Mizuho boosted their target price on shares of Robinhood Markets from $145.00 to $172.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Truist Financial started coverage on shares of Robinhood Markets in a research report on Wednesday, December 17th. They set a “buy” rating and a $155.00 target price on the stock. Keefe, Bruyette & Woods raised their price target on shares of Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a report on Thursday, November 6th. Finally, Cantor Fitzgerald reduced their price objective on Robinhood Markets from $155.00 to $152.00 and set an “overweight” rating on the stock in a report on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $137.30.

Robinhood Markets Stock Down 1.9%

The firm has a market capitalization of $106.22 billion, a price-to-earnings ratio of 49.02, a price-to-earnings-growth ratio of 2.16 and a beta of 2.43. The company’s fifty day moving average is $127.79 and its two-hundred day moving average is $115.48.

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

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 49,942 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $131.15, for a total value of $6,549,893.30. Following the sale, the insider directly owned 54,496 shares in the company, valued at $7,147,150.40. This trade represents a 47.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 1,330,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $128.47, for a total transaction of $170,865,100.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,686,763 shares of company stock worth $475,848,059. Corporate insiders own 14.47% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently bought and sold shares of the company. AIA Group Ltd grew its holdings in shares of Robinhood Markets by 45.9% in the 3rd quarter. AIA Group Ltd now owns 3,450 shares of the company’s stock valued at $494,000 after buying an additional 1,086 shares during the period. Keel Point LLC lifted its holdings in Robinhood Markets by 6.5% during the third quarter. Keel Point LLC now owns 3,941 shares of the company’s stock worth $564,000 after acquiring an additional 240 shares in the last quarter. New Mexico Educational Retirement Board acquired a new position in Robinhood Markets in the third quarter valued at about $4,983,000. Polar Asset Management Partners Inc. acquired a new position in Robinhood Markets in the third quarter valued at about $1,002,000. Finally, Cambria Investment Management L.P. increased its holdings in shares of Robinhood Markets by 63.1% in the third quarter. Cambria Investment Management L.P. now owns 15,358 shares of the company’s stock worth $2,199,000 after acquiring an additional 5,943 shares in the last quarter. 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.