Robinhood Markets (NASDAQ:HOOD) Stock Price Down 1.1%

Robinhood Markets, Inc. (NASDAQ:HOODGet Free Report) shares traded down 1.1% during mid-day trading on Friday . The stock traded as low as $22.97 and last traded at $23.06. 2,650,972 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 16,444,506 shares. The stock had previously closed at $23.31.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HOOD. KeyCorp increased their price target on shares of Robinhood Markets from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Deutsche Bank Aktiengesellschaft boosted 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. Sanford C. Bernstein started coverage on Robinhood Markets in a report on Thursday, March 14th. They set an “outperform” rating and a $30.00 target price for the company. The Goldman Sachs Group increased their price objective on shares of Robinhood Markets from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Finally, Bank of America upgraded shares of Robinhood Markets from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $24.00 in a research note on Friday, May 17th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Robinhood Markets has a consensus rating of “Hold” and an average price target of $19.89.

Get Our Latest Stock Analysis on HOOD

Robinhood Markets Trading Down 3.4 %

The stock has a fifty day moving average price of $19.12 and a 200 day moving average price of $15.50. The firm has a market cap of $19.79 billion, a price-to-earnings ratio of 153.73 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOODGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.05 by $0.13. The firm had revenue of $618.00 million during the quarter, compared to analysts’ expectations of $552.74 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The company’s revenue for the quarter was up 40.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.57) EPS. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 0.53 EPS for the current year.

Insider Activity

In related news, insider Baiju Bhatt sold 16,667 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $17.17, for a total value of $286,172.39. Following the sale, the insider now owns 36,045 shares of the company’s stock, valued at approximately $618,892.65. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Jason Warnick sold 5,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.59, for a total value of $97,950.00. Following the transaction, the chief financial officer now directly owns 1,002,407 shares in the company, valued at approximately $19,637,153.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Baiju Bhatt sold 16,667 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $17.17, for a total value of $286,172.39. Following the completion of the sale, the insider now directly owns 36,045 shares of the company’s stock, valued at $618,892.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,382,174 shares of company stock worth $26,282,145. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Robinhood Markets in the fourth quarter valued at about $84,165,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Robinhood Markets by 9.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock worth $372,081,000 after acquiring an additional 2,517,012 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its position in shares of Robinhood Markets by 9.6% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock worth $360,514,000 after purchasing an additional 2,486,986 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Robinhood Markets by 4.5% during the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock worth $561,732,000 after purchasing an additional 2,459,702 shares during the last quarter. Finally, ARK Investment Management LLC grew its position in Robinhood Markets by 6.4% in the fourth quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock valued at $445,087,000 after purchasing an additional 2,101,325 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Company Profile

(Get Free Report)

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.

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