Shares of Robinhood Markets, Inc. (NASDAQ:HOOD – Get Rating) fell 5.7% on Friday after Barclays lowered their price target on the stock from $10.00 to $9.00. The company traded as low as $9.07 and last traded at $9.10. 3,787,972 shares were traded during mid-day trading, a decline of 47% from the average session volume of 7,081,118 shares. The stock had previously closed at $9.65.
A number of other research firms have also recently commented on HOOD. JPMorgan Chase & Co. boosted their price target on Robinhood Markets from $9.00 to $11.00 and gave the stock an “underweight” rating in a report on Thursday, February 9th. JMP Securities reissued a “market outperform” rating and set a $25.00 price target on shares of Robinhood Markets in a report on Monday, March 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $9.00 to $10.00 in a report on Thursday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets has an average rating of “Hold” and an average price target of $11.73.
Insider Buying and Selling at Robinhood Markets
In related news, CEO Vladimir Tenev sold 83,334 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $9.84, for a total transaction of $820,006.56. Following the sale, the chief executive officer now owns 1,115,646 shares in the company, valued at approximately $10,977,956.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Baiju Bhatt sold 23,313 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $8.41, for a total transaction of $196,062.33. Following the transaction, the insider now directly owns 100,300 shares of the company’s stock, valued at approximately $843,523. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 83,334 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $9.84, for a total value of $820,006.56. Following the completion of the sale, the chief executive officer now directly owns 1,115,646 shares of the company’s stock, valued at $10,977,956.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 417,568 shares of company stock worth $3,959,236. Insiders own 15.31% of the company’s stock.
Institutional Trading of Robinhood Markets
Several institutional investors and hedge funds have recently modified their holdings of the stock. Sei Investments Co. raised its stake in shares of Robinhood Markets by 11.8% in the first quarter. Sei Investments Co. now owns 212,394 shares of the company’s stock worth $2,062,000 after purchasing an additional 22,405 shares during the last quarter. Ethic Inc. increased its position in shares of Robinhood Markets by 31.6% during the first quarter. Ethic Inc. now owns 26,874 shares of the company’s stock valued at $261,000 after acquiring an additional 6,457 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Robinhood Markets by 20.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,759,846 shares of the company’s stock valued at $26,794,000 after acquiring an additional 470,972 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Robinhood Markets by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,314,980 shares of the company’s stock valued at $41,898,000 after acquiring an additional 33,295 shares during the last quarter. Finally, Insigneo Advisory Services LLC purchased a new stake in shares of Robinhood Markets during the first quarter valued at approximately $662,000. 58.81% of the stock is owned by hedge funds and other institutional investors.
Robinhood Markets Stock Down 5.7 %
The company has a market capitalization of $8.15 billion, a PE ratio of -1.31 and a beta of 1.10. The stock has a 50-day moving average of $9.31 and a 200 day moving average of $9.52.
Robinhood Markets (NASDAQ:HOOD – Get Rating) last issued its quarterly earnings results on Wednesday, February 8th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). Robinhood Markets had a negative net margin of 131.63% and a negative return on equity of 8.40%. The business had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $395.16 million. During the same period in the previous year, the business posted ($0.49) earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Robinhood Markets, Inc. will post -0.7 EPS for the current fiscal year.
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), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron’s, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade.