Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells 123,272 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven M. Quirk sold 123,272 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now owns 298,826 shares of the company’s stock, valued at approximately $16,674,490.80. The trade was a 29.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $48.78 on Friday. The stock has a market cap of $43.12 billion, a price-to-earnings ratio of 31.07, a PEG ratio of 1.05 and a beta of 2.13. The business has a 50 day simple moving average of $48.11 and a 200 day simple moving average of $34.66. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping 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%. On average, analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently bought and sold shares of HOOD. Creative Planning lifted its position in shares of Robinhood Markets by 34.6% in the third quarter. Creative Planning now owns 35,384 shares of the company’s stock worth $829,000 after buying an additional 9,094 shares during the last quarter. Raymond James & Associates raised its stake in shares of Robinhood Markets by 76.6% in the 3rd quarter. Raymond James & Associates now owns 99,278 shares of the company’s stock valued at $2,325,000 after acquiring an additional 43,075 shares in the last quarter. Signaturefd LLC lifted its holdings in Robinhood Markets by 16.5% in the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after purchasing an additional 487 shares during the last quarter. Private Advisor Group LLC boosted its position in Robinhood Markets by 3.2% during the third quarter. Private Advisor Group LLC now owns 84,777 shares of the company’s stock worth $1,985,000 after purchasing an additional 2,644 shares during the period. Finally, International Assets Investment Management LLC boosted its position in Robinhood Markets by 301.5% during the third quarter. International Assets Investment Management LLC now owns 7,026 shares of the company’s stock worth $165,000 after purchasing an additional 5,276 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on HOOD. Raymond James assumed coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods boosted their target price on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Citigroup raised their target price on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Piper Sandler lifted their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Mizuho increased their price objective on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.53.

About Robinhood Markets

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.