Robinhood Markets (NASDAQ:HOOD) Shares Down 2.6% After Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price dropped 2.6% on Monday after an insider sold shares in the company. The company traded as low as $37.45 and last traded at $38.01. Approximately 4,357,175 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 16,985,779 shares. The stock had previously closed at $39.02.

Specifically, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of Robinhood Markets stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the transaction, the insider now directly owns 806,955 shares in the company, valued at approximately $30,268,882.05. The trade was a 27.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods increased their price target on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. JMP Securities boosted their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 12th. Barclays raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $26.00 to $49.00 in a report on Monday, December 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $52.00 price target (up from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus price target of $39.20.

Robinhood Markets Stock Down 1.9 %

The company has a market capitalization of $33.82 billion, a price-to-earnings ratio of 64.85, a PEG ratio of 0.76 and a beta of 2.09. The stock has a fifty day moving average price of $34.36 and a two-hundred day moving average price of $26.25.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. During the same period in the previous year, the firm posted ($0.09) EPS. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, research analysts forecast that Robinhood Markets, Inc. will post 0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of the company. Garden State Investment Advisory Services LLC acquired a new position in Robinhood Markets in the 3rd quarter valued at $263,000. Franklin Resources Inc. acquired a new position in Robinhood Markets in the third quarter valued at $6,321,000. Wilmington Savings Fund Society FSB acquired a new stake in Robinhood Markets in the 3rd quarter worth about $351,000. Sanctuary Advisors LLC boosted its stake in Robinhood Markets by 44.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company’s stock worth $1,481,000 after buying an additional 19,345 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in Robinhood Markets by 31.1% in the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after buying an additional 16,219 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.