Robinhood Markets (NASDAQ:HOOD) Trading Down 0.8% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) shares were down 0.8% on Wednesday following insider selling activity. The stock traded as low as $44.92 and last traded at $45.85. Approximately 9,977,221 shares changed hands during trading, a decline of 66% from the average daily volume of 29,303,730 shares. The stock had previously closed at $46.22.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. JMP Securities increased their price objective on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Sanford C. Bernstein lifted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.13.

Robinhood Markets Stock Down 0.9 %

The business’s fifty day moving average is $48.93 and its two-hundred day moving average is $35.64. The stock has a market capitalization of $39.33 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank lifted its stake in shares of Robinhood Markets by 31.1% in 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 lifted its position in Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock worth $164,000 after buying an additional 3,769 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Robinhood Markets during the fourth quarter worth $634,000. Atomi Financial Group Inc. raised its stake in shares of Robinhood Markets by 20.7% in the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after acquiring an additional 92,613 shares during the period. Finally, Requisite Capital Management LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at $266,000. 93.27% of the stock is owned by institutional investors.

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.