Robinhood Markets (NASDAQ:HOOD) Stock Price Down 0.2% on Insider Selling

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) dropped 0.2% during trading on Friday after an insider sold shares in the company. The stock traded as low as $55.36 and last traded at $55.94. Approximately 9,347,489 shares changed hands during trading, a decline of 62% from the average daily volume of 24,804,055 shares. The stock had previously closed at $56.06.

Specifically, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total value of $3,038,500.00. Following the sale, the insider now owns 706,642 shares in the company, valued at $42,942,634.34. This trade represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 522,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were 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 owns 5,042 shares in the company, valued at $316,133.40. This represents a 99.04 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price 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. Barclays raised their price target on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Citigroup raised their price target on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods raised their price target on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Sanford C. Bernstein raised their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.53.

Robinhood Markets Stock Down 8.0 %

The business’s 50 day moving average is $47.42 and its two-hundred day moving average is $33.80. The firm has a market cap of $45.61 billion, a P/E ratio of 32.87, a P/E/G ratio of 1.11 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC increased its stake in Robinhood Markets by 184.8% in 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 in the last quarter. Newlands Management Operations LLC increased its stake in Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock valued at $900,159,000 after purchasing an additional 273,860 shares in the last quarter. State Street Corp increased its stake in Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after purchasing an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC increased its stake in Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock valued at $455,464,000 after purchasing an additional 555,299 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after purchasing an additional 3,091,514 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

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.