Robinhood Markets (NASDAQ:HOOD) Stock Price Down 1.8% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price traded down 1.8% during trading on Thursday after an insider sold shares in the company. The company traded as low as $53.23 and last traded at $53.24. 6,004,516 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 20,027,008 shares. The stock had previously closed at $54.20.

Specifically, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the completion of the sale, the insider now directly owns 706,642 shares in the company, valued at approximately $36,462,727.20. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HOOD. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $20.00 to $43.00 in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Sanford C. Bernstein boosted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Keefe, Bruyette & Woods boosted their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, JMP Securities lifted their price target on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.73.

Robinhood Markets Stock Down 1.9 %

The firm has a market cap of $47.00 billion, a price-to-earnings ratio of 90.12, a PEG ratio of 0.70 and a beta of 2.13. The company’s 50-day moving average price is $43.13 and its 200-day moving average price is $30.91.

Institutional Trading of Robinhood Markets

A number of large investors have recently made changes to their positions in the company. Vestmark Advisory Solutions Inc. increased its stake in Robinhood Markets by 23.6% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 451,577 shares of the company’s stock valued at $16,826,000 after purchasing an additional 86,186 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Robinhood Markets in the fourth quarter valued at $90,869,000. Arizona State Retirement System lifted its holdings in Robinhood Markets by 2.5% in the fourth quarter. Arizona State Retirement System now owns 155,108 shares of the company’s stock valued at $5,779,000 after acquiring an additional 3,722 shares during the period. Aigen Investment Management LP lifted its holdings in Robinhood Markets by 161.2% in the fourth quarter. Aigen Investment Management LP now owns 85,868 shares of the company’s stock valued at $3,199,000 after acquiring an additional 52,988 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of Robinhood Markets in the fourth quarter valued at $2,367,000. 93.27% of the stock is currently 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.