Robinhood Markets (NASDAQ:HOOD) Shares Down 4.5% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price was down 4.5% on Tuesday after an insider sold shares in the company. The stock traded as low as $109.32 and last traded at $109.83. Approximately 16,976,470 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 41,516,879 shares. The stock had previously closed at $115.02.

Specifically, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $109.39, for a total value of $45,761,993.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HOOD shares. Morgan Stanley boosted their target price on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Compass Point lifted their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, June 27th. JMP Securities boosted their price objective on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a “market outperform” rating in a research report on Thursday, July 31st. KeyCorp upped their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. raised their target price on Robinhood Markets from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $100.31.

Robinhood Markets Trading Down 2.0%

The company’s 50-day simple moving average is $97.50 and its 200-day simple moving average is $67.34. The stock has a market capitalization of $93.61 billion, a price-to-earnings ratio of 53.47, a PEG ratio of 3.94 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. The company had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. Robinhood Markets’s revenue was up 45.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently made changes to their positions in the stock. True Vision MN LLC increased its position in Robinhood Markets by 1.7% during the 2nd quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock valued at $642,000 after purchasing an additional 116 shares during the period. Forum Financial Management LP boosted its stake in shares of Robinhood Markets by 0.8% in the 2nd quarter. Forum Financial Management LP now owns 17,997 shares of the company’s stock valued at $1,685,000 after purchasing an additional 134 shares during the last quarter. Hemington Wealth Management increased its position in shares of Robinhood Markets by 22.5% during the second quarter. Hemington Wealth Management now owns 779 shares of the company’s stock worth $72,000 after buying an additional 143 shares during the period. Ballentine Partners LLC increased its position in shares of Robinhood Markets by 2.3% during the second quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock worth $620,000 after buying an additional 148 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after buying an additional 148 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

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.