Robinhood Markets (NASDAQ:HOOD) Trading Down 5.1% After Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) dropped 5.1% on Tuesday after an insider sold shares in the company. The stock traded as low as $61.93 and last traded at $61.95. Approximately 16,100,477 shares changed hands during trading, a decline of 33% from the average daily volume of 24,048,426 shares. The stock had previously closed at $65.28.

Specifically, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the sale, the director now directly owns 5,042 shares of the company’s stock, valued at $316,133.40. The trade was a 99.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analysts Set New Price Targets

HOOD has been the subject of several recent analyst reports. Piper Sandler boosted their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Sanford C. Bernstein upped their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Citigroup boosted their price target on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Raymond James began coverage on Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating on the stock. Finally, Mizuho upped their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.53.

Robinhood Markets Stock Down 7.4 %

The company’s fifty day moving average price is $46.43 and its two-hundred day moving average price is $33.22. The firm has a market cap of $53.43 billion, a PE ratio of 102.44, a P/E/G ratio of 0.73 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. As a group, analysts predict that Robinhood Markets, Inc. will post 0.97 earnings per share for the current year.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds and other institutional 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 valued at about $26,000. HM Payson & Co. lifted its position in shares of Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the period. Eastern Bank purchased a new stake in shares of Robinhood Markets during the 3rd quarter worth approximately $30,000. True Wealth Design LLC acquired a new stake in shares of Robinhood Markets in the 3rd quarter worth approximately $30,000. Finally, CoreCap Advisors LLC increased its stake 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 in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.