Robinhood Markets (NASDAQ:HOOD) Stock Price Down 13.7% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price traded down 13.7% during trading on Monday following insider selling activity. The stock traded as low as $37.82 and last traded at $38.35. 26,298,286 shares were traded during mid-day trading, a decline of 14% from the average session volume of 30,527,002 shares. The stock had previously closed at $44.42.

Specifically, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the sale, the chief technology officer now 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 the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were 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 owns 822,893 shares of the company’s stock, valued at $40,338,214.86. The trade was a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. KeyCorp upped their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Robinhood Markets from $39.00 to $45.00 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 twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.13.

Robinhood Markets Stock Down 14.1 %

The company has a fifty day simple moving average of $49.03 and a two-hundred day simple moving average of $36.03. The stock has a market capitalization of $33.77 billion, a P/E ratio of 24.44, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share 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%. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently made changes to their positions in HOOD. MetLife Investment Management LLC lifted its stake in Robinhood Markets by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock valued at $440,000 after acquiring an additional 171 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after buying an additional 233 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after purchasing an additional 277 shares during the period. Commerce Bank grew its holdings in Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after buying an additional 423 shares in the last quarter. Finally, Spire Wealth Management increased its position in Robinhood Markets by 104.6% during the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after buying an additional 549 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.