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

Robinhood Markets, Inc. (NASDAQ:HOOD) fell 3.6% on Friday after an insider sold shares in the company. The stock traded as low as $42.29 and last traded at $43.22. 18,013,826 shares were traded during 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 business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the transaction, the chief technology officer now owns 17,559 shares in the company, valued at approximately $821,936.79. The trade was a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $49.02, for a total value 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 represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, Director Meyer Malka sold 64,951 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $49.64, for a total transaction of $3,224,167.64. Following the completion of the transaction, the director now directly owns 3,235,585 shares of the company’s stock, valued at approximately $160,614,439.40. This represents a 1.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

HOOD has been the subject of several recent analyst reports. Needham & Company LLC boosted their target price on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Wolfe Research downgraded shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. increased their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Piper Sandler lifted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Mizuho upped their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.13.

Robinhood Markets Price Performance

The company has a 50 day moving average price of $49.03 and a 200 day moving average price of $35.92. The firm has a market cap of $39.33 billion, a PE ratio of 28.29, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS 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%. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new position in Robinhood Markets during the 4th quarter worth approximately $26,000. CoreCap Advisors LLC boosted its stake in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after buying an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares during the period. Colonial Trust Co SC acquired a new position in Robinhood Markets during the fourth quarter worth $34,000. Finally, Silicon Valley Capital Partners purchased a new position in Robinhood Markets in the fourth quarter worth $37,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.