Robinhood Markets (NASDAQ:HOOD) Stock Price Down 11.2% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price fell 11.2% on Friday following insider selling activity. The company traded as low as $31.59 and last traded at $33.96. 29,745,994 shares traded hands during trading, an increase of 33% from the average session volume of 22,383,298 shares. The stock had previously closed at $38.26.

Specifically, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HOOD. JPMorgan Chase & Co. lifted their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Compass Point started coverage on Robinhood Markets in a research note on Wednesday, March 19th. They set a “buy” rating and a $61.00 price target for the company. Cantor Fitzgerald began coverage on Robinhood Markets in a research note on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut their target price on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Finally, JMP Securities increased their price target on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.24.

Robinhood Markets Price Performance

The stock’s 50 day simple moving average is $48.15 and its two-hundred day simple moving average is $38.71. The stock has a market capitalization of $30.56 billion, a PE ratio of 21.98, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating the consensus estimate 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 fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC lifted its holdings in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Norges Bank bought a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $329,598,000. GQG Partners LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership bought a new position in Robinhood Markets in the 4th quarter worth approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Robinhood Markets by 335.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock valued at $193,202,000 after buying an additional 3,994,745 shares in the last quarter. Institutional investors 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.