Robinhood Markets (NASDAQ:HOOD) Stock Price Down 0.8% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price was down 0.8% on Wednesday after an insider sold shares in the company. The stock traded as low as $44.92 and last traded at $45.85. Approximately 9,977,221 shares were traded during trading, a decline of 66% from the average daily volume of 29,303,730 shares. The stock had previously closed at $46.22.

Specifically, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $49.02, for a total transaction of $1,225,500.00. Following the completion of the sale, the insider now owns 822,893 shares of the company’s stock, valued at approximately $40,338,214.86. The trade was a 2.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Meyer Malka sold 64,951 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $49.64, for a total value of $3,224,167.64. Following the completion of the sale, the director now owns 3,235,585 shares in the company, valued at approximately $160,614,439.40. This represents a 1.97 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

HOOD has been the topic of several recent research reports. Citigroup upped their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Needham & Company LLC upped their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Morgan Stanley boosted 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 investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.13.

Robinhood Markets Price Performance

The firm has a market cap of $39.33 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 1.05 and a beta of 2.14. The business has a fifty day simple moving average of $48.93 and a 200 day simple moving average of $35.64.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating 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, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its position 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 acquiring an additional 26,107,934 shares during the period. Newlands Management Operations LLC increased its position in shares of Robinhood Markets by 1.1% during the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock worth $900,159,000 after purchasing an additional 273,860 shares during the last quarter. State Street Corp lifted its position 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 buying an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC lifted its position 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 buying an additional 555,299 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock worth $450,031,000 after buying an additional 3,091,514 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

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.