Robinhood Markets (NASDAQ:HOOD) Stock Price Down 1.4%

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) traded down 1.4% during mid-day trading on Tuesday . The company traded as low as $21.80 and last traded at $21.93. 3,298,764 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 16,396,912 shares. The stock had previously closed at $22.25.

Analyst Ratings Changes

Several research firms recently commented on HOOD. Keefe, Bruyette & Woods started coverage on Robinhood Markets in a research report on Wednesday, April 3rd. They set a “market perform” rating and a $20.00 target price for the company. Morgan Stanley raised their target price on shares of Robinhood Markets from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research note on Thursday, June 6th. Piper Sandler raised their price objective on shares of 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 raised their price target on Robinhood Markets from $12.00 to $16.00 and gave the company a “hold” rating in a research report on Tuesday, March 19th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Hold” and a consensus target price of $19.89.

Robinhood Markets Trading Down 1.5 %

The company’s fifty day simple moving average is $19.27 and its 200 day simple moving average is $15.79. The firm has a market capitalization of $19.26 billion, a P/E ratio of 146.20 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.13. The firm had revenue of $618.00 million for the quarter, compared to the consensus estimate of $552.74 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The business’s revenue for the quarter was up 40.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.57) EPS. On average, analysts predict that Robinhood Markets, Inc. will post 0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.83, for a total value of $222,875.00. Following the sale, the insider now owns 854,995 shares in the company, valued at $15,244,560.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $21.03, for a total value of $5,257,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.83, for a total transaction of $222,875.00. Following the sale, the insider now directly owns 854,995 shares in the company, valued at $15,244,560.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,365,507 shares of company stock worth $25,995,973. 19.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently made changes to their positions in the company. Railway Pension Investments Ltd boosted its holdings in Robinhood Markets by 52.6% in the first quarter. Railway Pension Investments Ltd now owns 2,393,031 shares of the company’s stock worth $48,172,000 after purchasing an additional 825,307 shares during the last quarter. EULAV Asset Management grew its holdings in shares of Robinhood Markets by 4.5% in the first quarter. EULAV Asset Management now owns 700,000 shares of the company’s stock worth $14,091,000 after acquiring an additional 30,000 shares during the period. Cetera Advisors LLC purchased a new stake in Robinhood Markets during the first quarter valued at $606,000. Jacobs Levy Equity Management Inc. lifted its holdings in Robinhood Markets by 12.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,779,376 shares of the company’s stock valued at $35,819,000 after acquiring an additional 197,245 shares during the period. Finally, Public Employees Retirement Association of Colorado purchased a new position in Robinhood Markets in the first quarter worth about $988,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

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.