Robinhood Markets (NASDAQ:HOOD) Trading Down 2.6% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) fell 2.6% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $39.91 and last traded at $41.10. 19,454,446 shares were traded during mid-day trading, a decline of 17% from the average session volume of 23,393,608 shares. The stock had previously closed at $42.21.

Specifically, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $34.51, for a total transaction of $201,987.03. Following the transaction, the chief technology officer now owns 5,853 shares of the company’s stock, valued at approximately $201,987.03. This represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $38.31, for a total value of $957,750.00. Following the completion of the transaction, the insider now owns 822,825 shares of the company’s stock, valued at $31,522,425.75. This trade represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

HOOD has been the subject of a number of recent analyst reports. Mizuho lifted their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Needham & Company LLC cut their price objective on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Morgan Stanley downgraded shares of Robinhood Markets from an “overweight” rating to an “equal weight” rating and set a $40.00 target price for the company. in a report on Tuesday. JMP Securities cut their price target on shares of Robinhood Markets from $77.00 to $70.00 and set a “market outperform” rating on the stock in a research note on Tuesday. Finally, KeyCorp boosted their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.06.

Robinhood Markets Stock Down 5.7 %

The firm’s 50 day moving average price is $46.85 and its two-hundred day moving average price is $39.23. The firm has a market capitalization of $35.23 billion, a PE ratio of 25.51, a P/E/G ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC grew 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 worth $1,499,248,000 after purchasing an additional 26,107,934 shares in the last quarter. Norges Bank bought a new position in Robinhood Markets during the fourth quarter worth $329,598,000. GQG Partners LLC acquired a new position in Robinhood Markets in the fourth quarter worth $302,325,000. Artisan Partners Limited Partnership bought a new stake in Robinhood Markets during the fourth quarter valued at $152,949,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Robinhood Markets by 335.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock worth $193,202,000 after purchasing an additional 3,994,745 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.