Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells $1,335,403.23 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven M. Quirk sold 24,311 shares of the firm’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $54.93, for a total value of $1,335,403.23. Following the transaction, the insider now directly owns 299,349 shares in the company, valued at $16,443,240.57. This trade represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Robinhood Markets Stock Performance

HOOD stock opened at $60.68 on Friday. The firm has a 50 day moving average price of $44.76 and a 200-day moving average price of $43.31. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The firm has a market capitalization of $53.73 billion, a price-to-earnings ratio of 38.65, a PEG ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business had revenue of $927.00 million for the quarter, compared to analysts’ expectations of $917.12 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. Robinhood Markets’s revenue for the quarter was up 50.0% on a year-over-year basis. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

Several large investors have recently made changes to their positions in HOOD. FMR LLC lifted its holdings in shares of Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Norges Bank purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $329,598,000. GQG Partners LLC purchased a new position in Robinhood Markets in the 4th quarter worth approximately $302,325,000. Vanguard Group Inc. raised its holdings in Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares during the last quarter. Finally, AGF Management Ltd. raised its holdings in Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after acquiring an additional 4,255,862 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. The Goldman Sachs Group raised their target price on Robinhood Markets from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler raised their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Cantor Fitzgerald cut their target price on Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Finally, KeyCorp cut their target price on Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.41.

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.