Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells $5,203,109.18 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven M. Quirk sold 208,291 shares of Robinhood Markets stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the completion of the sale, the insider now owns 346,020 shares in the company, valued at approximately $8,643,579.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Robinhood Markets Trading Up 3.0 %

HOOD stock opened at $26.27 on Friday. Robinhood Markets, Inc. has a 12 month low of $7.91 and a 12 month high of $26.65. The company has a 50-day moving average price of $21.08 and a 200 day moving average price of $20.59. The stock has a market cap of $23.09 billion, a PE ratio of 175.13 and a beta of 1.84.

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

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently added to or reduced their stakes in the stock. Angeles Wealth Management LLC boosted its position in Robinhood Markets by 5.3% in the 1st 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 during the period. GAMMA Investing LLC lifted its position in shares of Robinhood Markets by 44.9% in the 2nd 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 position in shares of Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares during the period. Whittier Trust Co. lifted 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 worth $117,000 after purchasing an additional 1,194 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Robinhood Markets in the 3rd quarter worth approximately $33,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of research reports. Bank of America lifted their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Citigroup boosted their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a report on Thursday, August 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Robinhood Markets from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $23.83.

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.