Robinhood Markets (NASDAQ:HOOD) Shares Down 13.7% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) traded down 13.7% during trading on Monday after an insider sold shares in the company. The company traded as low as $37.82 and last traded at $38.35. 26,298,286 shares traded hands during trading, a decline of 14% from the average session volume of 30,527,002 shares. The stock had previously closed at $44.42.

Specifically, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the sale, the chief technology officer now directly owns 17,559 shares in the company, valued at $821,936.79. This represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets 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 transaction, the insider now owns 822,893 shares in the company, valued at approximately $40,338,214.86. This trade represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HOOD shares. Piper Sandler raised their target price on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JMP Securities boosted their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Needham & Company LLC lifted their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods increased their price objective on Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and an average target price of $60.13.

Robinhood Markets Stock Performance

The stock has a market cap of $33.77 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The company’s 50 day simple moving average is $49.03 and its two-hundred day simple moving average is $36.03.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share 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 research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently bought and sold shares of the business. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter worth about $26,000. True Wealth Design LLC bought a new stake in Robinhood Markets during the third quarter worth approximately $30,000. CoreCap Advisors LLC boosted its holdings in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV grew its position in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC bought a new position in shares of Robinhood Markets during the 4th quarter worth about $34,000. 93.27% of the stock is currently owned by 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.