Robinhood Markets (NASDAQ:HOOD) Shares Down 4.7% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) fell 4.7% on Wednesday after an insider sold shares in the company. The company traded as low as $45.33 and last traded at $45.90. 14,427,501 shares traded hands during trading, a decline of 32% from the average session volume of 21,283,353 shares. The stock had previously closed at $48.15.

Specifically, Director Baiju Bhatt sold 223,528 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $43.21, for a total value of $9,658,644.88. Following the transaction, the director now owns 5,042 shares of the company’s stock, valued at $217,864.82. This trade represents a 97.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $43.36, for a total transaction of $253,786.08. Following the completion of the transaction, the chief technology officer now owns 11,706 shares in the company, valued at $507,572.16. This represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on HOOD shares. Raymond James began coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating for the company. JPMorgan Chase & Co. upped their target price on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. KeyCorp boosted their price target on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. JMP Securities raised their price objective 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. Finally, Barclays boosted their target price 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 equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

Robinhood Markets Stock Performance

The company has a market cap of $40.64 billion, a PE ratio of 29.23, a PEG ratio of 1.05 and a beta of 2.14. The firm’s 50 day moving average is $49.35 and its 200-day moving average is $37.82.

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

Hedge Funds Weigh In On Robinhood Markets

Several large investors have recently modified their holdings of HOOD. New Wave Wealth Advisors LLC purchased a new position in Robinhood Markets during the fourth quarter worth about $26,000. True Wealth Design LLC acquired a new stake in Robinhood Markets in the 3rd quarter valued at approximately $30,000. CoreCap Advisors LLC raised its position in Robinhood Markets by 191.6% in the fourth 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 period. Creative Financial Designs Inc. ADV lifted its stake in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares in the last quarter. Finally, Colonial Trust Co SC purchased a new position in shares of Robinhood Markets during the fourth quarter worth $34,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.