Robinhood Markets (NASDAQ:HOOD) Stock Price Down 5% – Time to Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price fell 5% during trading on Friday . The company traded as low as $104.15 and last traded at $104.26. 16,186,138 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 27,944,285 shares. The stock had previously closed at $109.76.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on HOOD shares. Barclays reduced their price target on Robinhood Markets from $122.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a report on Thursday, July 2nd. Citizens Jmp reiterated a “market outperform” rating and issued a $155.00 target price on shares of Robinhood Markets in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $105.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Finally, Sanford C. Bernstein upped their price objective on shares of Robinhood Markets from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, July 20th. Twenty-one research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $120.52.

Robinhood Markets Trading Down 5.0%

The company has a 50-day simple moving average of $101.54 and a 200 day simple moving average of $86.98. The firm has a market cap of $93.74 billion, a PE ratio of 45.93, a price-to-earnings-growth ratio of 1.98 and a beta of 2.35. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.18. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the company earned $0.42 earnings per share. The firm’s revenue for the quarter was up 32.5% on a year-over-year basis. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 50,317 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $96.80, for a total transaction of $4,870,685.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $90.42, for a total transaction of $904,200.00. Following the sale, the insider directly owned 461,396 shares of the company’s stock, valued at $41,719,426.32. The trade was a 2.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 612,704 shares of company stock worth $66,675,612 in the last 90 days. 13.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Several large investors have recently modified their holdings of the business. CYBER HORNET ETFs LLC lifted its stake in Robinhood Markets by 527.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares in the last quarter. Elyxium Wealth LLC purchased a new position in Robinhood Markets in the fourth quarter valued at approximately $27,000. MV Capital Management Inc. acquired a new position in Robinhood Markets in the fourth quarter valued at $27,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at about $27,000. Finally, Swiss RE Ltd. acquired a new position in shares of Robinhood Markets in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Company Profile

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.