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

Robinhood Markets, Inc. (NASDAQ:HOOD) shares fell 3.6% during trading on Friday following insider selling activity. The company traded as low as $42.29 and last traded at $43.22. 18,013,826 shares traded hands during mid-day 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 firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the sale, the chief technology officer now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were 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 owns 822,893 shares in the company, valued at approximately $40,338,214.86. This trade represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. In other Robinhood Markets news, Director Meyer Malka sold 64,951 shares of Robinhood Markets stock in a transaction on Friday, February 28th. The shares were sold at an average price of $49.64, for a total value of $3,224,167.64. Following the completion of the transaction, the director now owns 3,235,585 shares of the company’s stock, valued at $160,614,439.40. The trade was a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HOOD. Raymond James initiated coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating for the company. Piper Sandler upped their target price on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Mizuho raised their price objective 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. Barclays upped their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Cantor Fitzgerald started coverage on Robinhood Markets in a research note on Thursday. They set an “overweight” rating and a $69.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.13.

Robinhood Markets Trading Down 0.9 %

The firm has a market cap of $39.33 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The firm’s 50 day moving average is $49.03 and its two-hundred day moving average is $35.92.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly 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%. Analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE lifted its holdings 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 valued at $650,000 after purchasing an additional 13,448 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Robinhood Markets by 834.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,504 shares of the company’s stock worth $152,000 after buying an additional 5,808 shares during the period. Asset Management One Co. Ltd. lifted its stake in Robinhood Markets by 2.4% in the third quarter. Asset Management One Co. Ltd. now owns 184,586 shares of the company’s stock valued at $4,323,000 after buying an additional 4,325 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Robinhood Markets in the third quarter valued at approximately $51,000. Finally, Covestor Ltd increased its position in shares of Robinhood Markets by 180.8% during the third quarter. Covestor Ltd now owns 18,554 shares of the company’s stock worth $434,000 after acquiring an additional 11,946 shares in the last quarter. 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.