Robinhood Markets (NASDAQ:HOOD) Stock Price Down 1.3% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price traded down 1.3% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $47.42 and last traded at $47.75. 19,267,221 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 21,210,096 shares. The stock had previously closed at $48.36.

Specifically, Director Baiju Bhatt sold 223,528 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $43.21, for a total transaction of $9,658,644.88. Following the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at $217,864.82. This represents a 97.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $43.36, for a total value of $253,786.08. Following the completion of the sale, the chief technology officer now directly owns 11,706 shares of the company’s stock, valued at $507,572.16. The trade was a 33.33 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Compass Point started coverage on Robinhood Markets in a research report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 target price on the stock. Needham & Company LLC increased their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Cantor Fitzgerald started coverage on Robinhood Markets in a research note on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, JMP Securities upped their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

Robinhood Markets Stock Performance

The stock has a fifty day moving average price of $49.33 and a 200-day moving average price of $37.87. The firm has a market capitalization of $39.61 billion, a PE ratio of 28.49, a P/E/G ratio of 1.05 and a beta of 2.14.

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

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently made changes to their positions in HOOD. Natixis Advisors LLC increased its position in Robinhood Markets by 44.0% during the 3rd quarter. Natixis Advisors LLC now owns 33,980 shares of the company’s stock valued at $796,000 after buying an additional 10,376 shares in the last quarter. Commerce Bank raised its position in shares of Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after purchasing an additional 423 shares during the last quarter. Cerity Partners LLC boosted its stake in Robinhood Markets by 32.2% in the 3rd quarter. Cerity Partners LLC now owns 107,629 shares of the company’s stock worth $2,521,000 after purchasing an additional 26,245 shares in the last quarter. Centaurus Financial Inc. grew its position in Robinhood Markets by 7.5% during the 3rd quarter. Centaurus Financial Inc. now owns 9,444 shares of the company’s stock worth $221,000 after purchasing an additional 655 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Robinhood Markets by 7.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 49,910 shares of the company’s stock valued at $1,168,000 after purchasing an additional 3,490 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

About Robinhood Markets

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.