Robinhood Markets (NASDAQ:HOOD) Stock Price Down 0.5% Following Insider Selling

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) were down 0.5% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $59.15 and last traded at $60.16. Approximately 10,216,140 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 24,404,799 shares. The stock had previously closed at $60.44.

Specifically, Director Baiju Bhatt sold 522,180 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the completion of the sale, the director now directly owns 5,042 shares of the company’s stock, valued at $316,133.40. The trade was a 99.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. KeyCorp boosted their price target on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Piper Sandler boosted their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JMP Securities lifted their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Needham & Company LLC increased their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Mizuho raised their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $59.53.

Robinhood Markets Stock Performance

The business’s 50 day moving average price is $46.43 and its two-hundred day moving average price is $33.22. The company has a market capitalization of $53.22 billion, a price-to-earnings ratio of 38.32, a price-to-earnings-growth ratio of 0.80 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last released its 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 13.96% and a net margin of 47.81%. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HOOD. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets in the 4th quarter valued at about $26,000. HM Payson & Co. raised its holdings in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares in the last quarter. Eastern Bank acquired a new stake in Robinhood Markets during the third quarter valued at approximately $30,000. True Wealth Design LLC bought a new stake in Robinhood Markets during the third quarter worth approximately $30,000. Finally, CoreCap Advisors LLC grew its position in Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after buying an additional 550 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

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.