Robinhood Markets (NASDAQ:HOOD) Trading Down 1.3% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) shares traded down 1.3% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $47.42 and last traded at $47.75. 19,267,221 shares changed hands during trading, a decline of 9% from the average session volume of 21,210,096 shares. The stock had previously closed at $48.36.

Specifically, Director Baiju Bhatt sold 223,528 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $43.21, for a total value of $9,658,644.88. Following the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at approximately $217,864.82. The trade was a 97.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $43.36, for a total transaction of $253,786.08. Following the sale, the chief technology officer now directly owns 11,706 shares of the company’s stock, valued at approximately $507,572.16. This trade represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HOOD shares. Morgan Stanley boosted their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Needham & Company LLC lifted their target price on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Barclays increased their price target on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Cantor Fitzgerald started coverage on Robinhood Markets in a report on Thursday, March 6th. They set an “overweight” rating and a $69.00 price objective on the stock. Finally, JMP Securities raised their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.29.

Robinhood Markets Price Performance

The company has a 50-day simple moving average of $49.35 and a 200-day simple moving average of $37.82. The firm has a market cap of $42.63 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last released its 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 return on equity of 13.53% and a net margin of 47.81%. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently added to or reduced their stakes in the stock. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets during the 4th quarter worth $26,000. True Wealth Design LLC bought a new position in shares of Robinhood Markets during the third quarter valued at approximately $30,000. CoreCap Advisors LLC raised its stake in Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after buying an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV raised its stake in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after buying an additional 750 shares in the last quarter. Finally, Colonial Trust Co SC purchased a new stake in Robinhood Markets during the fourth quarter worth $34,000. 93.27% of the stock is 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.