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

Robinhood Markets, Inc. (NASDAQ:HOOD) fell 0.2% on Friday following insider selling activity. The stock traded as low as $55.36 and last traded at $55.94. 9,347,489 shares changed hands during 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 Robinhood Markets stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total value of $3,038,500.00. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the firm’s stock in a transaction dated 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 directly owns 5,042 shares in the company, valued at approximately $316,133.40. The trade was a 99.04 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HOOD. Sanford C. Bernstein increased their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. KeyCorp increased their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Mizuho lifted their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Wolfe Research downgraded Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.53.

Robinhood Markets Trading Down 0.4 %

The company has a 50 day simple moving average of $47.19 and a two-hundred day simple moving average of $33.56. The firm has a market capitalization of $49.37 billion, a P/E ratio of 35.57, a P/E/G ratio of 1.11 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last issued 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, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently made changes to their positions in the company. New Wave Wealth Advisors LLC purchased a new position in Robinhood Markets during the 4th quarter valued at approximately $26,000. HM Payson & Co. boosted its position in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the last quarter. Eastern Bank purchased a new stake in Robinhood Markets during the third quarter valued at $30,000. True Wealth Design LLC bought a new stake in shares of Robinhood Markets in the 3rd quarter worth about $30,000. Finally, CoreCap Advisors LLC boosted its holdings in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares during the period. 93.27% of the stock is owned by institutional investors.

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.