Robinhood Markets (NASDAQ:HOOD) Shares Down 5.7% – Here’s What Happened

Robinhood Markets, Inc. (NASDAQ:HOOD) shares traded down 5.7% on Monday . The stock traded as low as $71.42 and last traded at $71.78. 29,975,613 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 31,168,832 shares. The stock had previously closed at $76.11.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HOOD shares. Keefe, Bruyette & Woods boosted their target price on Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a report on Thursday, November 6th. Wolfe Research upgraded shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective for the company in a research note on Monday, February 9th. CICC Research assumed coverage on shares of Robinhood Markets in a research note on Monday, October 27th. They issued an “outperform” rating and a $155.00 target price on the stock. Argus began coverage on shares of Robinhood Markets in a report on Friday, January 9th. They set a “buy” rating and a $145.00 target price on the stock. Finally, Barclays decreased their price target on shares of Robinhood Markets from $159.00 to $124.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Seventeen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $121.71.

Robinhood Markets Stock Performance

The firm has a market capitalization of $64.54 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 1.30 and a beta of 2.44. The stock’s fifty day moving average is $103.45 and its two-hundred day moving average is $117.33.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.32 billion. Robinhood Markets had a net margin of 42.10% and a return on equity of 22.32%. The firm’s revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 EPS. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $107.48, for a total transaction of $630,262.72. Following the sale, the chief technology officer directly owned 9,133 shares in the company, valued at $981,614.84. The trade was a 39.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shiv Verma sold 5,474 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $75.13, for a total value of $411,261.62. Following the transaction, the chief financial officer owned 51,771 shares of the company’s stock, valued at approximately $3,889,555.23. This trade represents a 9.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 696,413 shares of company stock worth $84,031,209 over the last quarter. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caisse Des Depots ET Consignations acquired a new stake in Robinhood Markets during the third quarter worth about $3,984,000. Jennison Associates LLC acquired a new position in Robinhood Markets during the 3rd quarter valued at approximately $322,823,000. Aberdeen Group plc grew its stake in Robinhood Markets by 565.1% during the 3rd quarter. Aberdeen Group plc now owns 185,538 shares of the company’s stock worth $26,565,000 after buying an additional 157,643 shares during the last quarter. New York Life Investment Management LLC acquired a new stake in Robinhood Markets in the third quarter worth $14,989,000. Finally, NEOS Investment Management LLC bought a new stake in Robinhood Markets in the third quarter valued at $11,994,000. 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.