Robinhood Markets (NASDAQ:HOOD) Shares Gap Down After Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOODGet Free Report) gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $19.41, but opened at $18.37. Robinhood Markets shares last traded at $18.37, with a volume of 3,544,230 shares.

Specifically, insider Baiju Bhatt sold 222,877 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $12.28, for a total transaction of $2,736,929.56. Following the completion of the transaction, the insider now owns 3,497 shares in the company, valued at approximately $42,943.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Robinhood Markets news, insider Baiju Bhatt sold 222,877 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $12.28, for a total transaction of $2,736,929.56. Following the completion of the transaction, the insider now owns 3,497 shares in the company, valued at approximately $42,943.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason Warnick sold 5,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.59, for a total value of $97,950.00. Following the transaction, the chief financial officer now owns 1,002,407 shares of the company’s stock, valued at approximately $19,637,153.13. The disclosure for this sale can be found here. Insiders sold 2,185,027 shares of company stock worth $31,565,248 in the last 90 days. 20.81% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

HOOD has been the subject of several research analyst reports. Sanford C. Bernstein initiated coverage on Robinhood Markets in a report on Thursday, March 14th. They issued an “outperform” rating and a $30.00 price objective for the company. Barclays upped their price objective on Robinhood Markets from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. Mizuho upped their price objective on Robinhood Markets from $17.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. TheStreet upgraded Robinhood Markets from a “d+” rating to a “c-” rating in a report on Wednesday, February 28th. Finally, KeyCorp upped their price objective on Robinhood Markets from $15.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Hold” and a consensus target price of $16.35.

Get Our Latest Report on Robinhood Markets

Robinhood Markets Price Performance

The business has a 50 day simple moving average of $15.28 and a 200 day simple moving average of $12.01.

Robinhood Markets (NASDAQ:HOODGet Free Report) last issued its earnings results on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The firm had revenue of $471.00 million for the quarter, compared to the consensus estimate of $454.73 million. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 0.23 EPS for the current fiscal year.

Institutional Trading of Robinhood Markets

Several large investors have recently made changes to their positions in the stock. Spire Wealth Management acquired a new position in Robinhood Markets in the 4th quarter valued at approximately $26,000. Covestor Ltd bought a new position in Robinhood Markets in the 1st quarter valued at $28,000. Quantbot Technologies LP bought a new position in Robinhood Markets in the 2nd quarter valued at $28,000. Peoples Bank KS bought a new position in Robinhood Markets in the 3rd quarter valued at $29,000. Finally, PNC Financial Services Group Inc. boosted its position in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Robinhood Markets Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Robinhood Markets and related companies with MarketBeat.com's FREE daily email newsletter.