Robinhood Markets (NASDAQ:HOOD) Stock Price Down 5.1% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) fell 5.1% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $61.93 and last traded at $61.95. 16,100,477 shares were traded during mid-day trading, a decline of 33% from the average session volume of 24,048,426 shares. The stock had previously closed at $65.28.

Specifically, Director Baiju Bhatt sold 522,180 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was 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 directly owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. The trade was a 99.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

Several brokerages recently issued reports on HOOD. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their target price for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Morgan Stanley lifted their price objective 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. Sanford C. Bernstein upped their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Raymond James initiated coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating on the stock. Finally, Citigroup boosted their target price on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $59.53.

Robinhood Markets Stock Performance

The firm has a market capitalization of $53.43 billion, a P/E ratio of 102.44, a PEG ratio of 0.73 and a beta of 2.13. The stock has a 50 day moving average of $46.43 and a 200-day moving average of $33.22.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 0.97 EPS for the current year.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently bought and sold shares of the business. New Wave Wealth Advisors LLC purchased a new position in shares of Robinhood Markets in the fourth quarter valued at $26,000. HM Payson & Co. grew its holdings in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares in the last quarter. Eastern Bank bought a new stake in shares of Robinhood Markets during the third quarter valued at about $30,000. True Wealth Design LLC purchased a new stake in shares of Robinhood Markets in the third quarter worth about $30,000. Finally, CoreCap Advisors LLC boosted its position in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after acquiring an additional 550 shares during the period. 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.