Robinhood Markets (NASDAQ:HOOD) Stock Price Down 0.2% After Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) shares traded down 0.2% during trading on Friday after an insider sold shares in the company. The stock traded as low as $55.36 and last traded at $55.94. 9,347,489 shares changed hands during trading, a decline of 62% from the average session volume of 24,804,055 shares. The stock had previously closed at $56.06.

Specifically, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total value of $3,038,500.00. Following the sale, the insider now owns 706,642 shares of the company’s stock, valued at approximately $42,942,634.34. This represents a 6.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 522,180 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the completion of the sale, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. The trade was a 99.04 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HOOD. Keefe, Bruyette & Woods boosted their price target on Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price target on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. KeyCorp boosted their price target on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Sanford C. Bernstein boosted their price target on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, Piper Sandler boosted their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus target price of $59.53.

Robinhood Markets Stock Performance

The stock has a market capitalization of $45.61 billion, a price-to-earnings ratio of 32.87, a P/E/G ratio of 1.05 and a beta of 2.13. The firm has a fifty day moving average of $47.42 and a 200-day moving average of $33.92.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Trading of Robinhood Markets

Several large investors have recently added to or reduced their stakes in HOOD. Creative Planning increased its holdings in Robinhood Markets by 34.6% in the 3rd quarter. Creative Planning now owns 35,384 shares of the company’s stock valued at $829,000 after purchasing an additional 9,094 shares in the last quarter. Raymond James & Associates boosted its position in Robinhood Markets by 76.6% in the 3rd quarter. Raymond James & Associates now owns 99,278 shares of the company’s stock valued at $2,325,000 after buying an additional 43,075 shares during the last quarter. Signaturefd LLC boosted its position in Robinhood Markets by 16.5% in the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after buying an additional 487 shares during the last quarter. Eastern Bank purchased a new position in Robinhood Markets in the 3rd quarter valued at about $30,000. Finally, Private Advisor Group LLC boosted its position in Robinhood Markets by 3.2% in the 3rd quarter. Private Advisor Group LLC now owns 84,777 shares of the company’s stock valued at $1,985,000 after buying an additional 2,644 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Company Profile

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.