Robinhood Markets (NASDAQ:HOOD) Stock Price Down 1.3% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price fell 1.3% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $47.42 and last traded at $47.75. 19,267,221 shares changed hands during trading, a decline of 9% from the average session volume of 21,210,096 shares. The stock had previously closed at $48.36.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on HOOD shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. JMP Securities raised their target price on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. upped their price target on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Morgan Stanley lifted their price objective on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Needham & Company LLC upped their target price on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $61.29.

Robinhood Markets Price Performance

The stock has a 50 day simple moving average of $49.33 and a 200-day simple moving average of $37.87. The firm has a market cap of $39.61 billion, a PE ratio of 28.49, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank boosted its stake in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after purchasing an additional 16,219 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Robinhood Markets by 601.1% during the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock valued at $164,000 after buying an additional 3,769 shares during the last quarter. Everence Capital Management Inc. bought a new stake in Robinhood Markets in the 4th quarter worth about $634,000. Charles Schwab Investment Management Inc. raised its position in Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after buying an additional 138,267 shares during the last quarter. Finally, Atomi Financial Group Inc. raised its position in Robinhood Markets by 20.7% in the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after buying an additional 92,613 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

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.