Robinhood Markets (NASDAQ:HOOD) Stock Price Down 0.8% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) shares dropped 0.8% during trading on Wednesday following insider selling activity. The company traded as low as $44.92 and last traded at $45.85. Approximately 9,977,221 shares traded hands during trading, a decline of 66% from the average daily volume of 29,303,730 shares. The stock had previously closed at $46.22.

Specifically, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $40,338,214.86. This trade represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Meyer Malka sold 64,951 shares of the stock in a transaction dated Friday, February 28th. The shares were 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 owns 3,235,585 shares of the company’s stock, valued at $160,614,439.40. This represents a 1.97 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of research analyst reports. Raymond James started coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating on the stock. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price target for the stock from $40.00 to $46.00 in a report on Friday, December 6th. KeyCorp lifted their price objective on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Morgan Stanley upped their target price on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Piper Sandler lifted their price objective on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.13.

Robinhood Markets Stock Down 0.9 %

The stock has a market cap of $39.33 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 1.05 and a beta of 2.14. The stock’s fifty day moving average is $48.93 and its 200-day moving average is $35.64.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently made changes to their positions in HOOD. Toronto Dominion Bank boosted its stake in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after purchasing an additional 16,219 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Robinhood Markets by 601.1% during the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock worth $164,000 after acquiring an additional 3,769 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of Robinhood Markets during the fourth quarter worth approximately $634,000. Atomi Financial Group Inc. lifted its stake in shares of Robinhood Markets by 20.7% in the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after acquiring an additional 92,613 shares during the last quarter. Finally, Requisite Capital Management LLC bought a new position in shares of Robinhood Markets during the fourth quarter valued at about $266,000. 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.