Robinhood Markets (NASDAQ:HOOD) Shares Down 4% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price fell 4% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $24.17 and last traded at $24.58. 5,264,699 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 15,459,786 shares. The stock had previously closed at $25.61.

Specifically, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $22.88, for a total transaction of $5,720,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $22.37, for a total value of $279,625.00. Following the transaction, the insider now directly owns 1,057,500 shares in the company, valued at $23,656,275. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a report on Monday, September 30th. Morgan Stanley boosted their price objective on Robinhood Markets from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Bank of America upped their price target on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Citigroup raised their price objective on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Hold” and a consensus price target of $23.83.

Robinhood Markets Trading Down 4.0 %

The company’s fifty day simple moving average is $20.71 and its 200 day simple moving average is $20.46. The stock has a market capitalization of $21.60 billion, a P/E ratio of 161.20 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. The company had revenue of $682.00 million during the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. Equities research analysts predict that Robinhood Markets, Inc. will post 0.76 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Robinhood Markets by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after buying an additional 1,003,535 shares in the last quarter. Banque Cantonale Vaudoise grew its position in shares of Robinhood Markets by 21,404.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock worth $1,948,000 after buying an additional 96,318 shares during the period. UniSuper Management Pty Ltd increased its stake in shares of Robinhood Markets by 87.1% during the first quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock valued at $117,000 after purchasing an additional 2,700 shares in the last quarter. Wellington Management Group LLP bought a new position in Robinhood Markets during the 4th quarter valued at approximately $8,299,000. Finally, O Neil Global Advisors Inc. purchased a new position in shares of Robinhood Markets in the 2nd quarter worth about $2,298,000. Hedge funds and other institutional investors 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.