Robinhood Markets (NASDAQ:HOOD) Stock Price Down 0.8% – Time to Sell?

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) dropped 0.8% on Monday . The stock traded as low as $48.08 and last traded at $51.51. Approximately 9,409,476 shares were traded during trading, a decline of 54% from the average daily volume of 20,477,293 shares. The stock had previously closed at $51.95.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Robinhood Markets from $55.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, January 17th. KeyCorp upped their target price on Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. JMP Securities increased their price target on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Finally, Raymond James started coverage on Robinhood Markets in a research report on Wednesday. They issued a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $43.73.

Robinhood Markets Trading Up 3.1 %

The company has a market capitalization of $47.91 billion, a price-to-earnings ratio of 91.87, a PEG ratio of 0.70 and a beta of 2.13. The firm has a 50-day moving average price of $42.49 and a 200-day moving average price of $30.59.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 186,514 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the sale, the director now directly owns 2,521 shares of the company’s stock, valued at $96,125.73. The trade was a 98.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Meyer Malka sold 105,875 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $3,176,250.00. Following the completion of the transaction, the director now owns 28,930,243 shares of the company’s stock, valued at $867,907,290. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,938,436 shares of company stock worth $161,862,969. 19.95% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently modified their holdings of the business. New Wave Wealth Advisors LLC acquired a new position in shares of Robinhood Markets in the 4th quarter valued at about $26,000. HM Payson & Co. increased its stake in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares during the period. Eastern Bank purchased a new stake in Robinhood Markets in the 3rd quarter worth approximately $30,000. True Wealth Design LLC acquired a new stake in shares of Robinhood Markets during the 3rd quarter valued at $30,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of Robinhood Markets during the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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), 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.