Robinhood Markets (NASDAQ:HOOD) Shares Down 6.6% – Here’s What Happened

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

Robinhood Markets News Summary

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 equities research analysts have recently commented on HOOD shares. China Renaissance assumed coverage on Robinhood Markets in a report on Tuesday, July 7th. They set a “buy” rating for the company. Citigroup reissued a “market outperform” rating on shares of Robinhood Markets in a research report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Robinhood Markets from $105.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Mizuho upped their price objective on shares of Robinhood Markets from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. Finally, Barclays raised their price objective on shares of Robinhood Markets from $82.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Twenty-one research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus price target of $122.22.

Robinhood Markets Price Performance

The company has a market cap of $85.47 billion, a P/E ratio of 45.85, a price-to-earnings-growth ratio of 2.00 and a beta of 2.33. The stock has a fifty day moving average price of $96.52 and a two-hundred day moving average price of $88.61.

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

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 67,422 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total transaction of $5,082,270.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meyer Malka purchased 250,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $80.74 per share, with a total value of $20,185,000.00. Following the completion of the acquisition, the director directly owned 3,924,427 shares of the company’s stock, valued at approximately $316,858,235.98. This trade represents a 6.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 680,000 shares of company stock worth $55,306,560 and sold 587,875 shares worth $62,602,915. 13.48% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

A number of institutional investors have recently added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC grew its holdings in Robinhood Markets by 527.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after buying an additional 190 shares in the last quarter. MV Capital Management Inc. bought a new stake in shares of Robinhood Markets during the fourth quarter valued at about $27,000. Swiss RE Ltd. purchased a new stake in shares of Robinhood Markets in the fourth quarter worth about $27,000. Elyxium Wealth LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter worth about $27,000. Finally, Sound Income Strategies LLC boosted its position in shares of Robinhood Markets by 152.6% in the fourth quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock valued at $26,000 after acquiring an additional 145 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.