Steven M. Quirk Sells 208,291 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven M. Quirk sold 208,291 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $24.98, for a total value of $5,203,109.18. Following the transaction, the insider now directly owns 346,020 shares of the company’s stock, valued at $8,643,579.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $26.27 on Friday. The stock’s fifty day simple moving average is $21.08 and its 200 day simple moving average is $20.58. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $26.65. The firm has a market cap of $23.09 billion, a price-to-earnings ratio of 175.13 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. The company had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 EPS. On average, research analysts anticipate that Robinhood Markets, Inc. will post 0.76 earnings per share for the current year.

Institutional Trading of Robinhood Markets

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in shares of Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after acquiring an additional 2,094,800 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Robinhood Markets by 169.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock valued at $40,092,000 after purchasing an additional 1,251,495 shares during the last quarter. AQR Capital Management LLC boosted its stake in Robinhood Markets by 274.7% in the second quarter. AQR Capital Management LLC now owns 1,661,824 shares of the company’s stock worth $37,341,000 after purchasing an additional 1,218,317 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Robinhood Markets by 7,622.2% during the second quarter. Acadian Asset Management LLC now owns 1,040,877 shares of the company’s stock worth $23,625,000 after purchasing an additional 1,027,398 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Robinhood Markets by 1.8% in the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after buying an additional 1,003,535 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HOOD. Bank of America upped their price target on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. KeyCorp upped their target price on shares of Robinhood Markets from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Barclays upped their price objective on shares of Robinhood Markets from $20.00 to $23.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, The Goldman Sachs Group lifted their target price on Robinhood Markets from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $23.83.

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.