Robinhood Markets (NASDAQ:HOOD) Trading Down 0.2% After Analyst Downgrade

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price dropped 0.2% during trading on Monday after Barclays lowered their price target on the stock from $76.00 to $45.00. Barclays currently has an overweight rating on the stock. Robinhood Markets traded as low as $29.66 and last traded at $34.43. Approximately 38,279,877 shares traded hands during trading, an increase of 69% from the average daily volume of 22,709,010 shares. The stock had previously closed at $34.51.

A number of other research firms have also weighed in on HOOD. KeyCorp increased their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Raymond James started coverage on Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating on the stock. Piper Sandler raised their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. JMP Securities boosted their price objective on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.41.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 500,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $50.77, for a total value of $25,385,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the transaction, the chief technology officer now directly owns 17,559 shares of the company’s stock, valued at approximately $821,936.79. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,621,134 shares of company stock worth $131,646,496 in the last 90 days. Insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently made changes to their positions in the company. FMR LLC lifted its position in Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after acquiring an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC raised its stake in shares of Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock worth $900,159,000 after purchasing an additional 273,860 shares during the last quarter. State Street Corp lifted its holdings in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after purchasing an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Robinhood Markets by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock valued at $455,464,000 after buying an additional 555,299 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Robinhood Markets by 34.4% in the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock worth $450,031,000 after buying an additional 3,091,514 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

The firm has a market cap of $31.35 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The stock has a 50-day simple moving average of $47.91 and a two-hundred day simple moving average of $39.02.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Robinhood Markets Company Profile

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.