Robinhood Markets (NASDAQ:HOOD) Stock Price Down 9.2% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price dropped 9.2% during trading on Tuesday following insider selling activity. The stock traded as low as $43.51 and last traded at $42.57. Approximately 11,269,475 shares were traded during trading, a decline of 60% from the average daily volume of 28,418,949 shares. The stock had previously closed at $46.89.

Specifically, Director Meyer Malka sold 64,951 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $49.64, for a total transaction of $3,224,167.64. Following the completion of the transaction, the director now owns 3,235,585 shares in the company, valued at approximately $160,614,439.40. This represents a 1.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. KeyCorp raised 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. Needham & Company LLC upped their price objective on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Mizuho increased their price objective 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 research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.53.

Robinhood Markets Trading Down 7.8 %

The business has a 50 day moving average of $48.53 and a 200-day moving average of $35.30. The stock has a market cap of $38.30 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data 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, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds have recently modified their holdings of the company. Raymond James & Associates lifted its stake in shares of Robinhood Markets by 76.6% during the third 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 period. International Assets Investment Management LLC raised its holdings in Robinhood Markets by 301.5% in the 3rd quarter. International Assets Investment Management LLC now owns 7,026 shares of the company’s stock valued at $165,000 after acquiring an additional 5,276 shares during the last quarter. US Bancorp DE lifted its stake in shares of Robinhood Markets by 94.0% during the 3rd quarter. US Bancorp DE now owns 27,751 shares of the company’s stock worth $650,000 after purchasing an additional 13,448 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Robinhood Markets by 834.5% during the third quarter. Farther Finance Advisors LLC now owns 6,504 shares of the company’s stock worth $152,000 after purchasing an additional 5,808 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Robinhood Markets by 24.7% in the third quarter. Van ECK Associates Corp now owns 627,743 shares of the company’s stock valued at $14,702,000 after purchasing an additional 124,410 shares during the period. 93.27% of the stock is 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.