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

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) 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 were traded 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 stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $49.02, for a total value of $1,225,500.00. Following the completion of the transaction, the insider now directly owns 822,893 shares of the company’s stock, valued at $40,338,214.86. This represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Meyer Malka sold 64,951 shares of Robinhood Markets stock in a transaction that occurred on 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 sale, 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 Analyst Weigh In

HOOD has been the topic of several research reports. JMP Securities lifted their price target on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. Wolfe Research cut shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their target price for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Mizuho lifted their price target 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. Finally, Barclays upped 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. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and an average price target of $60.13.

Robinhood Markets Price Performance

The company has a 50 day moving average price of $48.93 and a two-hundred day moving average price of $35.64. The stock has a market cap of $39.33 billion, a PE ratio of 28.29, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share 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%. As a group, equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently modified their holdings of the company. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets in the fourth quarter worth $26,000. True Wealth Design LLC bought a new stake in shares of Robinhood Markets during the 3rd quarter valued at about $30,000. CoreCap Advisors LLC increased its position in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the period. Finally, Colonial Trust Co SC purchased a new position in shares of Robinhood Markets in the fourth quarter worth approximately $34,000. 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.