Robinhood Markets (NASDAQ:HOOD) Trading Down 0.4% After Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price dropped 0.4% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $45.96 and last traded at $47.92. Approximately 13,965,545 shares traded hands during trading, a decline of 53% from the average daily volume of 29,478,602 shares. The stock had previously closed at $48.12.

Specifically, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $49.02, for a total value of $1,225,500.00. Following the transaction, the insider now directly owns 822,893 shares of the company’s stock, valued at approximately $40,338,214.86. This represents a 2.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Meyer Malka sold 64,951 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $49.64, for a total transaction of $3,224,167.64. Following the transaction, the director now owns 3,235,585 shares in the company, valued at $160,614,439.40. This represents a 1.97 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of research analysts have weighed in on HOOD shares. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and increased their target price for the company from $40.00 to $46.00 in a report on Friday, December 6th. Barclays raised their price objective on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Mizuho boosted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a research report on Thursday. They issued an “overweight” rating and a $69.00 price target on the stock. Finally, Citigroup lifted their price target on shares of Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.13.

Robinhood Markets Price Performance

The company’s 50-day simple moving average is $48.84 and its 200 day simple moving average is $35.57. The firm has a market cap of $42.45 billion, a P/E ratio of 30.52, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) 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%. Analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank grew its stake in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after purchasing an additional 16,219 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Robinhood Markets by 601.1% in the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock valued at $164,000 after purchasing an additional 3,769 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $634,000. Atomi Financial Group Inc. raised its stake in shares of Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after buying an additional 92,613 shares during the period. Finally, Requisite Capital Management LLC purchased a new position in shares of Robinhood Markets during the 4th quarter valued at approximately $266,000. 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.