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

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price gapped down before the market opened on Friday following insider selling activity. The stock had previously closed at $44.84, but opened at $43.64. Robinhood Markets shares last traded at $44.38, with a volume of 6,211,063 shares traded.

Specifically, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the transaction, the chief technology officer now directly owns 17,559 shares of the company’s stock, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $49.02, for a total value of $1,225,500.00. Following the completion of the transaction, the insider now directly owns 822,893 shares in the company, valued at approximately $40,338,214.86. This represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, Director Meyer Malka sold 64,951 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $49.64, for a total value of $3,224,167.64. Following the transaction, the director now directly owns 3,235,585 shares of the company’s stock, valued at approximately $160,614,439.40. This trade represents a 1.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Raymond James assumed coverage on Robinhood Markets in a report on Wednesday, February 5th. They issued a “market perform” rating on the stock. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. Needham & Company LLC raised their price target on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Morgan Stanley raised their price target on Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $60.13.

Robinhood Markets Price Performance

The company has a market cap of $39.33 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The company has a 50-day moving average of $49.03 and a 200 day moving average of $35.92.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping 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%. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Trading of Robinhood Markets

Institutional investors have recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new stake in Robinhood Markets in the fourth quarter worth about $26,000. True Wealth Design LLC bought a new stake in Robinhood Markets in the third quarter worth about $30,000. CoreCap Advisors LLC lifted 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 purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV lifted 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 purchasing an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC bought a new stake in Robinhood Markets in the fourth quarter worth about $34,000. 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.