Robinhood Markets (NASDAQ:HOOD) Trading Down 2.6% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price traded down 2.6% during trading on Monday following insider selling activity. The stock traded as low as $37.45 and last traded at $38.01. 4,357,175 shares traded hands during trading, a decline of 74% from the average session volume of 16,985,779 shares. The stock had previously closed at $39.02.

Specifically, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of Robinhood Markets stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the sale, the insider now owns 806,955 shares of the company’s stock, valued at approximately $30,268,882.05. The trade was a 27.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on HOOD shares. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price target for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Barclays upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $26.00 to $49.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. increased their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. KeyCorp boosted their price objective on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Piper Sandler lifted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.20.

Robinhood Markets Stock Down 1.9 %

The firm has a market cap of $33.84 billion, a price-to-earnings ratio of 64.88, a PEG ratio of 0.76 and a beta of 2.09. The company’s fifty day moving average is $34.36 and its 200 day moving average is $26.25.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results 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). The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business’s revenue was up 36.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) EPS. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors have recently added to or reduced their stakes in HOOD. Garden State Investment Advisory Services LLC bought a new position in shares of Robinhood Markets in the 3rd quarter valued at about $263,000. Franklin Resources Inc. bought a new position in Robinhood Markets during the third quarter worth about $6,321,000. Wilmington Savings Fund Society FSB acquired a new position in Robinhood Markets during the third quarter worth approximately $351,000. Sanctuary Advisors LLC raised its stake in Robinhood Markets by 44.1% in the third quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company’s stock valued at $1,481,000 after buying an additional 19,345 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after acquiring an additional 16,219 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.