Robinhood Markets (NASDAQ:HOOD) Shares Down 6.6% – Time to Sell?

Robinhood Markets, Inc. (NASDAQ:HOOD) shares were down 6.6% during mid-day trading on Friday . The company traded as low as $93.03 and last traded at $94.91. 23,099,158 shares changed hands during trading, a decline of 22% from the average session volume of 29,453,383 shares. The stock had previously closed at $101.58.

Key Robinhood Markets News

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Robinhood is getting support from analyst optimism, including a recent upgrade and a view that the stock could rise further ahead of earnings. Robinhood Markets (NASDAQ:HOOD) Trading 7.1% Higher on Analyst Upgrade
• Positive Sentiment: Market commentary highlighted Robinhood and Hyperliquid as potential leaders in the next crypto bull market, reinforcing investor interest in Robinhood’s crypto-linked growth opportunity. Robinhood, Hyperliquid could lead crypto’s next bull market…
• Positive Sentiment: Analysts and investors are focusing on upcoming Q2 metrics, which suggests the market is looking for a potentially meaningful earnings-related catalyst. Curious about Robinhood Markets (HOOD) Q2 Performance?
• Neutral Sentiment: Robinhood’s CEO X account was reportedly hacked to promote a fake memecoin, a headline that could raise some reputational noise but does not appear tied to the company’s core operations. Robinhood CEO’s X Account Hacked to Promote Fake Memecoin
• Neutral Sentiment: Recent coverage also centered on Robinhood’s growing product ecosystem, including Gold card adoption and a new Platinum card launch, but this was offset by ARK Invest reducing its position. Cathie Wood’s ARK Sells HOOD Stock Again…
• Negative Sentiment: Shares have been pressured by broader tech weakness, recent ARK selling, and caution ahead of earnings, which helped drive the stock lower in recent sessions. Why Is Robinhood Stock Falling on Thursday?
• Negative Sentiment: In the most recent reported trading session, HOOD also underperformed the broader market, adding to near-term weakness. Robinhood Markets, Inc. (HOOD) Suffers a Larger Drop Than the General Market

Analyst Upgrades and Downgrades

Several research firms recently commented on HOOD. KeyCorp raised their price target on shares of Robinhood Markets from $100.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citizens Jmp reissued a “market outperform” rating and issued a $155.00 price objective on shares of Robinhood Markets in a research report on Thursday, May 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 target price on shares of Robinhood Markets in a research note on Tuesday, June 9th. Truist Financial reduced their target price on shares of Robinhood Markets from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Twenty-one equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.22.

Robinhood Markets Stock Performance

The business’s fifty day moving average price is $96.17 and its two-hundred day moving average price is $88.57. The firm has a market capitalization of $85.47 billion, a P/E ratio of 45.85, a PEG ratio of 2.21 and a beta of 2.33.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the firm earned $0.37 EPS. The company’s revenue was up 15.1% compared to the same quarter last year. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $83.68, for a total transaction of $836,800.00. Following the completion of the sale, the insider owned 481,396 shares in the company, valued at approximately $40,283,217.28. This represents a 2.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 67,422 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total value of $5,082,270.36. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders bought 680,000 shares of company stock valued at $55,306,560 and sold 587,875 shares valued at $62,602,915. Company insiders own 13.48% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. Vanguard Group Inc. grew its stake in shares of Robinhood Markets by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company’s stock worth $10,831,756,000 after acquiring an additional 1,334,443 shares during the last quarter. State Street Corp raised its position in shares of Robinhood Markets by 2.7% in the 4th quarter. State Street Corp now owns 33,121,452 shares of the company’s stock valued at $3,746,036,000 after purchasing an additional 875,297 shares during the last quarter. Geode Capital Management LLC boosted its stake in Robinhood Markets by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock worth $2,386,944,000 after purchasing an additional 356,902 shares in the last quarter. Morgan Stanley boosted its stake in Robinhood Markets by 23.9% in the 4th quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock worth $1,208,335,000 after purchasing an additional 2,061,832 shares in the last quarter. Finally, Norges Bank purchased a new stake in Robinhood Markets during the 4th quarter worth approximately $1,202,160,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Company Profile

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.