Robinhood Markets (NASDAQ:HOOD) Shares Down 0.2% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) fell 0.2% during trading on Friday following insider selling activity. The stock traded as low as $55.36 and last traded at $55.94. 9,347,489 shares traded hands during mid-day 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 firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total value of $3,038,500.00. Following the sale, the insider now directly owns 706,642 shares in the company, valued at approximately $42,942,634.34. This trade represents a 6.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

HOOD has been the subject of several analyst reports. Morgan Stanley increased their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Piper Sandler lifted their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. JMP Securities increased their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. KeyCorp upped their price objective on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Mizuho raised their target price on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $59.53.

Robinhood Markets Price Performance

The business’s fifty day moving average price is $47.19 and its 200-day moving average price is $33.56. The stock has a market capitalization of $49.37 billion, a PE ratio of 35.57, a P/E/G ratio of 1.11 and a beta of 2.13.

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

Institutional Trading of Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of HOOD. Creative Planning increased its position in shares of Robinhood Markets by 34.6% during 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 during the last quarter. Raymond James & Associates boosted its position in shares of Robinhood Markets by 76.6% in the 3rd quarter. Raymond James & Associates now owns 99,278 shares of the company’s stock worth $2,325,000 after purchasing an additional 43,075 shares in the last quarter. Signaturefd LLC grew its stake in shares of Robinhood Markets by 16.5% in the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after acquiring an additional 487 shares during the last quarter. Eastern Bank purchased a new stake in Robinhood Markets during the 3rd quarter valued at about $30,000. Finally, Private Advisor Group LLC increased its position in shares of Robinhood Markets by 3.2% during the third quarter. Private Advisor Group LLC now owns 84,777 shares of the company’s stock valued at $1,985,000 after acquiring an additional 2,644 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.