Robinhood Markets, Inc. (NASDAQ:HOOD) CTO Sells $222,817.92 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $37.92, for a total value of $222,817.92. Following the completion of the transaction, the chief technology officer now owns 11,752 shares in the company, valued at approximately $445,635.84. This trade represents a 33.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Robinhood Markets Stock Up 5.5 %

Shares of NASDAQ:HOOD opened at $39.58 on Wednesday. The company has a market cap of $34.99 billion, a price-to-earnings ratio of 67.09, a PEG ratio of 0.76 and a beta of 2.09. The business has a 50 day moving average price of $33.58 and a 200 day moving average price of $25.91. Robinhood Markets, Inc. has a twelve month low of $10.38 and a twelve month high of $43.83.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the previous year, the business posted ($0.09) EPS. The company’s revenue was up 36.4% on a year-over-year basis. Analysts anticipate that Robinhood Markets, Inc. will post 0.8 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James & Associates grew its holdings in shares of Robinhood Markets by 28.6% during the 2nd quarter. Raymond James & Associates now owns 56,203 shares of the company’s stock worth $1,276,000 after purchasing an additional 12,512 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Robinhood Markets by 8.7% during the second quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company’s stock worth $54,749,000 after buying an additional 193,585 shares in the last quarter. Financial Connections Group Inc. bought a new stake in Robinhood Markets in the 2nd quarter valued at $159,000. Whittier Trust Co. raised its stake in shares of Robinhood Markets by 39.8% in the 2nd quarter. Whittier Trust Co. now owns 8,145 shares of the company’s stock valued at $185,000 after buying an additional 2,317 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Robinhood Markets by 6.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 242,366 shares of the company’s stock worth $5,504,000 after acquiring an additional 14,445 shares during the period. Institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HOOD shares. Sanford C. Bernstein lifted their price objective on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their target price for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Piper Sandler raised their target price on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Finally, JMP Securities raised their target price on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.20.

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.