Robinhood Markets (NASDAQ:HOOD) Shares Down 4.7% on Insider Selling

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) fell 4.7% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $45.33 and last traded at $45.90. 14,427,501 shares traded hands during trading, a decline of 32% from the average session volume of 21,283,353 shares. The stock had previously closed at $48.15.

Specifically, Director Baiju Bhatt sold 47,023 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $46.37, for a total value of $2,180,456.51. Following the completion of the transaction, the director now owns 5,042 shares in the company, valued at approximately $233,797.54. This represents a 90.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Baiju Bhatt sold 223,528 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $43.21, for a total transaction of $9,658,644.88. Following the sale, the director now owns 5,042 shares in the company, valued at approximately $217,864.82. This trade represents a 97.79 % decrease in their position. The disclosure for this sale can be found here. In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm’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 transaction of $253,786.08. Following the completion of the transaction, the chief technology officer now owns 11,706 shares of the company’s stock, valued at approximately $507,572.16. This trade represents a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HOOD shares. Citigroup raised their price objective on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Barclays increased their price objective on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. KeyCorp lifted their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Needham & Company LLC increased their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average target price of $61.29.

Robinhood Markets Stock Performance

The company’s 50-day moving average price is $49.29 and its 200 day moving average price is $37.91. The stock has a market cap of $38.95 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating 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%. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank raised its stake in shares of Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after buying an additional 16,219 shares during the period. IFP Advisors Inc increased its holdings in Robinhood Markets by 601.1% in the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock worth $164,000 after acquiring an additional 3,769 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Robinhood Markets during the 4th quarter worth approximately $634,000. Charles Schwab Investment Management Inc. lifted its holdings in Robinhood Markets by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after purchasing an additional 138,267 shares in the last quarter. Finally, Atomi Financial Group Inc. boosted its position in shares of Robinhood Markets by 20.7% in the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after purchasing an additional 92,613 shares during the period. 93.27% of the stock is 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.