Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Steven M. Quirk Sells 104,887 Shares

Robinhood Markets, Inc. (NASDAQ:HOODGet Free Report) insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the transaction, the insider now directly owns 228,621 shares in the company, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $72.51 on Friday. The firm has a market cap of $64.20 billion, a price-to-earnings ratio of 46.19, a P/E/G ratio of 1.05 and a beta of 2.25. The stock has a 50-day simple moving average of $51.92 and a 200-day simple moving average of $47.11. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $76.75.

Robinhood Markets (NASDAQ:HOODGet Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $917.12 million. During the same quarter last year, the firm earned $0.18 earnings per share. Robinhood Markets’s revenue was up 50.0% compared to the same quarter last year. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently bought and sold shares of the business. Whipplewood Advisors LLC increased its holdings in shares of Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock valued at $25,000 after acquiring an additional 508 shares during the last quarter. Hemington Wealth Management boosted its position in Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 218 shares during the period. Wayfinding Financial LLC acquired a new position in Robinhood Markets during the first quarter valued at approximately $30,000. CoreCap Advisors LLC raised 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 purchasing an additional 550 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its position in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after purchasing an additional 750 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HOOD. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $54.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Needham & Company LLC reiterated a “buy” rating and set a $71.00 price objective on shares of Robinhood Markets in a research report on Tuesday, May 27th. Piper Sandler lifted their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Citigroup cut their target price on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. 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 company has an average rating of “Moderate Buy” and an average target price of $55.41.

View Our Latest Stock Report on HOOD

About Robinhood Markets

(Get Free Report)

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.

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