Robinhood Markets (NASDAQ:HOOD) Insider Steven Quirk Sells 48,350 Shares

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven Quirk sold 48,350 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $140.61, for a total value of $6,798,493.50. Following the transaction, the insider owned 70,279 shares of the company’s stock, valued at $9,881,930.19. This trade represents a 40.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Robinhood Markets Stock Performance

Shares of HOOD stock traded down $15.40 during midday trading on Thursday, reaching $127.08. 50,208,846 shares of the company were exchanged, compared to its average volume of 40,393,199. Robinhood Markets, Inc. has a 12 month low of $28.67 and a 12 month high of $153.86. The company has a market cap of $112.93 billion, a P/E ratio of 64.51, a PEG ratio of 3.55 and a beta of 2.42. The company’s 50 day moving average price is $129.11 and its two-hundred day moving average price is $98.72.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm’s revenue for the quarter was up 100.0% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several research analyst reports. Bank of America lifted their target price on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a research note on Monday, October 27th. Zacks Research lowered shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Citigroup boosted their price target on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Finally, Barclays lifted their price objective on Robinhood Markets from $162.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.15.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. Vanguard Group Inc. boosted its holdings in shares of Robinhood Markets by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 75,612,131 shares of the company’s stock worth $7,079,564,000 after buying an additional 1,371,051 shares during the period. State Street Corp increased its stake in shares of Robinhood Markets by 9.2% in the second quarter. State Street Corp now owns 15,870,421 shares of the company’s stock worth $1,485,948,000 after purchasing an additional 1,341,204 shares during the period. Geode Capital Management LLC lifted its position in shares of Robinhood Markets by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock worth $1,233,840,000 after purchasing an additional 507,926 shares during the last quarter. WCM Investment Management LLC boosted its stake in Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after purchasing an additional 11,244,182 shares during the period. Finally, Norges Bank acquired a new stake in Robinhood Markets in the 2nd quarter valued at approximately $973,122,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.