Robinhood Markets (NASDAQ:HOOD) Shares Down 6.5% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price dropped 6.5% during trading on Thursday following insider selling activity. The company traded as low as $54.76 and last traded at $55.39. Approximately 13,242,623 shares changed hands during trading, a decline of 46% from the average daily volume of 24,568,754 shares. The stock had previously closed at $59.23.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on HOOD. KeyCorp increased their target price on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Mizuho increased their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. boosted their target price on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Barclays upped their target price on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, JMP Securities lifted their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.53.

Robinhood Markets Stock Performance

The firm has a market cap of $45.61 billion, a PE ratio of 32.87, a PEG ratio of 1.05 and a beta of 2.13. The company’s 50-day simple moving average is $47.42 and its two-hundred day simple moving average is $33.80.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping 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%. On average, analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently bought and sold shares of HOOD. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets in the fourth quarter worth $26,000. HM Payson & Co. raised its holdings in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares in the last quarter. Eastern Bank purchased a new stake in shares of Robinhood Markets in the 3rd quarter worth about $30,000. True Wealth Design LLC bought a new stake in shares of Robinhood Markets during the 3rd quarter valued at about $30,000. Finally, CoreCap Advisors LLC increased its position in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after buying an additional 550 shares during the period. 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.