Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells $6,878,577.60 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven M. Quirk sold 123,272 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.80, for a total value of $6,878,577.60. Following the completion of the sale, the insider now directly owns 298,826 shares of the company’s stock, valued at approximately $16,674,490.80. This represents a 29.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Robinhood Markets Trading Down 0.1 %

HOOD opened at $48.78 on Friday. The business’s 50 day moving average is $48.11 and its 200-day moving average is $34.66. The stock has a market cap of $43.12 billion, a PE ratio of 31.07, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results 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 return on equity of 13.53% and a net margin of 47.81%. As a group, analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Upgrades and Downgrades

HOOD has been the subject of several research reports. Piper Sandler lifted their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. JMP Securities lifted their price objective on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Morgan Stanley increased their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Citigroup raised their price target on shares of Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $59.53.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently modified their holdings of HOOD. New Wave Wealth Advisors LLC acquired a new position in Robinhood Markets during the 4th quarter valued at about $26,000. HM Payson & Co. boosted its holdings in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares in the last quarter. True Wealth Design LLC acquired a new position in shares of Robinhood Markets during the third quarter valued at approximately $30,000. CoreCap Advisors LLC raised its holdings in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its position in Robinhood Markets by 750.0% in 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 during the period. 93.27% of the stock is currently 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.