Steven M. Quirk Sells 123,272 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven M. Quirk sold 123,272 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the sale, the insider now directly owns 298,826 shares in the company, valued at approximately $16,674,490.80. This represents a 29.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Robinhood Markets Price Performance

HOOD opened at $48.85 on Thursday. The firm has a fifty day moving average price of $47.87 and a 200 day moving average price of $34.56. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The stock has a market cap of $43.18 billion, a P/E ratio of 31.11, a P/E/G ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HOOD. KeyCorp boosted their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Raymond James began coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating on the stock. Mizuho boosted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods boosted their target price on shares of Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.53.

Hedge Funds Weigh In On Robinhood Markets

Several large investors have recently made changes to their positions in HOOD. MetLife Investment Management LLC raised its position in Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock worth $440,000 after acquiring an additional 171 shares during the period. Dorsey & Whitney Trust CO LLC raised its position in Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after acquiring an additional 233 shares during the period. First Horizon Advisors Inc. raised its position in 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 acquiring an additional 277 shares during the period. HM Payson & Co. raised its position in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares during the period. Finally, Commerce Bank raised its position in Robinhood Markets by 3.3% during the third quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after acquiring an additional 423 shares during the period. 93.27% of the stock is currently 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.