Robinhood Markets (NASDAQ:HOOD) Trading Down 4% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price fell 4% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $24.17 and last traded at $24.58. 5,264,699 shares changed hands during trading, a decline of 66% from the average session volume of 15,459,786 shares. The stock had previously closed at $25.61.

Specifically, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $22.88, for a total value of $5,720,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total transaction of $279,625.00. Following the completion of the transaction, the insider now owns 1,057,500 shares in the company, valued at $23,656,275. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Wolfe Research raised shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a report on Wednesday, June 26th. JMP Securities reissued a “market outperform” rating and set a $30.00 price objective on shares of Robinhood Markets in a report on Thursday, August 8th. Keefe, Bruyette & Woods cut their target price on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.83.

Robinhood Markets Trading Up 0.2 %

The firm has a 50-day moving average price of $20.81 and a 200-day moving average price of $20.50. The company has a market capitalization of $22.54 billion, a price-to-earnings ratio of 171.00 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The firm had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $640.39 million. During the same period in the previous year, the business earned $0.03 earnings per share. Robinhood Markets’s revenue for the quarter was up 40.3% compared to the same quarter last year. Equities research analysts predict that Robinhood Markets, Inc. will post 0.76 EPS for the current fiscal year.

Institutional Trading of Robinhood Markets

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Angeles Wealth Management LLC increased its holdings in shares of Robinhood Markets by 5.3% in the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock valued at $246,000 after buying an additional 610 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Robinhood Markets by 44.9% during the second quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock worth $52,000 after purchasing an additional 710 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares during the last quarter. Whittier Trust Co. boosted its position in shares of Robinhood Markets by 25.8% in the 1st quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock valued at $117,000 after purchasing an additional 1,194 shares during the period. Finally, ORG Partners LLC purchased a new position in Robinhood Markets in the 2nd quarter worth about $33,000. 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.