Robinhood Markets (NASDAQ:HOOD) Trading Down 0.4% After Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) shares traded down 0.4% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $45.96 and last traded at $47.92. 13,965,545 shares were traded during mid-day trading, a decline of 53% from the average session volume of 29,478,602 shares. The stock had previously closed at $48.12.

Specifically, 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 transaction, the insider now owns 822,893 shares in the company, valued at $40,338,214.86. This represents a 2.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Meyer Malka sold 64,951 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $49.64, for a total value of $3,224,167.64. Following the sale, the director now owns 3,235,585 shares of the company’s stock, valued at approximately $160,614,439.40. This trade represents a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HOOD. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Morgan Stanley lifted their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. JMP Securities upped their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Barclays lifted their price objective on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Piper Sandler increased their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $60.13.

Robinhood Markets Stock Performance

The stock’s fifty day simple moving average is $48.84 and its two-hundred day simple moving average is $35.57. The company has a market capitalization of $42.45 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last announced 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, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently bought and sold shares of the business. Raymond James & Associates boosted its holdings 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 worth $2,325,000 after purchasing an additional 43,075 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Robinhood Markets by 301.5% during the 3rd quarter. International Assets Investment Management LLC now owns 7,026 shares of the company’s stock valued at $165,000 after buying an additional 5,276 shares during the period. US Bancorp DE grew 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 acquiring an additional 13,448 shares in the last quarter. Farther Finance Advisors LLC raised 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 acquiring an additional 5,808 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Robinhood Markets by 24.7% during 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 last quarter. 93.27% of the stock is currently 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.