Robinhood Markets (NASDAQ:HOOD) Stock Price Down 4.5% – Should You Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD) dropped 4.5% during trading on Friday . The company traded as low as $74.82 and last traded at $75.85. Approximately 23,108,927 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 30,582,113 shares. The stock had previously closed at $79.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Bank of America dropped their target price on Robinhood Markets from $166.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Cantor Fitzgerald cut their price objective on shares of Robinhood Markets from $130.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, February 17th. Morgan Stanley raised their target price on shares of Robinhood Markets from $146.00 to $147.00 and gave the stock an “equal weight” rating in a report on Monday, December 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Robinhood Markets in a research note on Monday, December 22nd. Finally, The Goldman Sachs Group lowered their price objective on Robinhood Markets from $152.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. Seventeen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and a consensus target price of $121.71.

Robinhood Markets Trading Down 4.5%

The firm has a 50-day moving average of $100.14 and a two-hundred day moving average of $116.23. The firm has a market capitalization of $68.20 billion, a P/E ratio of 36.82, a P/E/G ratio of 1.57 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Robinhood Markets had a net margin of 42.10% and a return on equity of 22.32%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company posted $1.01 EPS. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $132.13, for a total transaction of $15,855,600.00. Following the sale, the insider directly owned 430,012 shares in the company, valued at approximately $56,817,485.56. The trade was a 21.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 375,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $121.63, for a total transaction of $45,611,250.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 640,939 shares of company stock valued at $77,553,447 over the last three months. Company insiders own 14.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HOOD. Anchor Investment Management LLC bought a new position in shares of Robinhood Markets during the fourth quarter worth about $68,000. Banque Transatlantique SA increased its position in Robinhood Markets by 32.2% during the 4th quarter. Banque Transatlantique SA now owns 15,000 shares of the company’s stock valued at $1,697,000 after purchasing an additional 3,656 shares during the period. MidFirst Bank bought a new position in Robinhood Markets during the 4th quarter worth approximately $426,000. Floyd Financial Group LLC acquired a new position in shares of Robinhood Markets in the 4th quarter worth approximately $991,000. Finally, Beaird Harris Wealth Management LLC boosted its stake in shares of Robinhood Markets by 3.6% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 31,502 shares of the company’s stock valued at $3,563,000 after purchasing an additional 1,089 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

About Robinhood Markets

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.