Robinhood Markets (NASDAQ:HOOD) Trading Down 3.6% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price traded down 3.6% during mid-day trading on Friday following insider selling activity. The stock traded as low as $42.29 and last traded at $43.22. 18,013,826 shares traded hands during trading, a decline of 39% from the average session volume of 29,759,838 shares. The stock had previously closed at $44.84.

Specifically, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the transaction, the chief technology officer now owns 17,559 shares in the company, valued at $821,936.79. This trade represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $49.02, for a total transaction of $1,225,500.00. Following the completion of the sale, the insider now directly owns 822,893 shares in the company, valued at approximately $40,338,214.86. The trade was a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, Director Meyer Malka sold 64,951 shares of Robinhood Markets stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $49.64, for a total transaction of $3,224,167.64. Following the completion of the sale, the director now owns 3,235,585 shares in the company, valued at approximately $160,614,439.40. This trade represents a 1.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

HOOD has been the topic of several recent research reports. Barclays raised their price target on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Raymond James initiated coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating on the stock. Citigroup increased their target price on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Finally, Piper Sandler raised their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $60.13.

Robinhood Markets Stock Performance

The firm has a market capitalization of $39.33 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 1.05 and a beta of 2.14. The company has a 50-day moving average price of $49.03 and a 200-day moving average price of $35.92.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results 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 net margin of 47.81% and a return on equity of 13.53%. On average, research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE boosted its stake in 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 stake in shares of Robinhood Markets by 834.5% in the third quarter. Farther Finance Advisors LLC now owns 6,504 shares of the company’s stock valued at $152,000 after buying an additional 5,808 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Robinhood Markets by 2.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 184,586 shares of the company’s stock worth $4,323,000 after acquiring an additional 4,325 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Robinhood Markets in the 3rd quarter valued at about $51,000. Finally, Covestor Ltd lifted its position in shares of Robinhood Markets by 180.8% in the third quarter. Covestor Ltd now owns 18,554 shares of the company’s stock valued at $434,000 after acquiring an additional 11,946 shares in the last quarter. Institutional investors and hedge funds 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.