Robinhood Markets (NASDAQ:HOOD) Trading Down 2.6% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) fell 2.6% during trading on Monday after an insider sold shares in the company. The stock traded as low as $37.45 and last traded at $38.01. 4,357,175 shares were traded during trading, a decline of 74% from the average session 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 that occurred on Monday, December 23rd. The stock was 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 of the company’s stock, valued at $30,268,882.05. The trade was a 27.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several research analyst reports. Sanford C. Bernstein raised their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Piper Sandler boosted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Citigroup increased their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Keefe, Bruyette & Woods boosted their price target on Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Finally, JMP Securities raised their price objective on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.20.

Robinhood Markets Price Performance

The company’s 50 day simple moving average is $34.36 and its two-hundred day simple moving average is $26.25. The stock has a market capitalization of $33.84 billion, a P/E ratio of 64.88, a PEG ratio of 0.76 and a beta of 2.09.

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

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. Allspring Global Investments Holdings LLC grew its stake in shares of Robinhood Markets by 1,211,858.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after purchasing an additional 3,817,355 shares during the last quarter. Azora Capital LP acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at $79,780,000. FMR LLC raised its position in shares of Robinhood Markets by 31.3% during the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after acquiring an additional 3,368,118 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after acquiring an additional 2,094,800 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after acquiring an additional 1,895,427 shares during the last quarter. Institutional investors and hedge funds 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.