Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells 208,291 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven M. Quirk sold 208,291 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 346,020 shares in the company, valued at $8,643,579.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Robinhood Markets Stock Performance

NASDAQ HOOD traded down $0.15 during trading on Thursday, reaching $25.50. The company’s stock had a trading volume of 12,981,415 shares, compared to its average volume of 15,533,547. The firm has a market cap of $22.41 billion, a price-to-earnings ratio of 171.00 and a beta of 1.84. Robinhood Markets, Inc. has a twelve month low of $7.91 and a twelve month high of $25.87. The business’s fifty day moving average price is $20.81 and its 200-day moving average price is $20.50.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The business had revenue of $682.00 million for 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 business’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 EPS. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC boosted its holdings in Robinhood Markets by 3.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 148,609 shares of the company’s stock worth $3,480,000 after acquiring an additional 5,382 shares during the period. Annex Advisory Services LLC bought a new position in Robinhood Markets during the third quarter worth $14,841,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Robinhood Markets in the 3rd quarter valued at about $89,000. LifePro Asset Management bought a new stake in shares of Robinhood Markets during the 3rd quarter valued at about $1,677,000. Finally, CWM LLC raised its stake in Robinhood Markets by 66.9% during the third quarter. CWM LLC now owns 38,746 shares of the company’s stock worth $907,000 after acquiring an additional 15,524 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HOOD. Bank of America increased their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. lifted 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. The Goldman Sachs Group raised their price objective on shares of Robinhood Markets from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $30.00 target price on shares of Robinhood Markets in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.83.

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.