Robinhood Markets (NASDAQ:HOOD) Stock Price Down 2.9% Following Insider Selling

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) were down 2.9% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $130.90 and last traded at $131.93. Approximately 16,968,027 shares were traded during trading, a decline of 58% from the average daily volume of 40,263,309 shares. The stock had previously closed at $135.88.

Specifically, Director Baiju Bhatt sold 1,330,000 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $128.47, for a total transaction of $170,865,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven M. Quirk sold 48,350 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were 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 approximately $9,881,930.19. This trade represents a 40.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $145.95, for a total value of $3,648,750.00. Following the sale, the insider directly owned 540,949 shares of the company’s stock, valued at $78,951,506.55. This represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analysts Set New Price Targets

Several brokerages have recently commented on HOOD. Zacks Research cut shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. The Goldman Sachs Group increased their target price on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Piper Sandler reissued an “overweight” rating and set a $140.00 price target (up from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Loop Capital set a $161.00 price objective on shares of Robinhood Markets in a report on Monday, October 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a report on Wednesday, October 8th. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.65.

Robinhood Markets Stock Down 2.9%

The firm has a market capitalization of $117.24 billion, a P/E ratio of 54.74, a PEG ratio of 3.05 and a beta of 2.42. The business’s 50 day moving average is $130.74 and its two-hundred day moving average is $100.95.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.20. Robinhood Markets had a return on equity of 22.13% and a net margin of 52.19%.The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company posted $0.17 EPS. The company’s revenue was up 100.0% compared to the same quarter last year. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of Robinhood Markets

Several large investors have recently made changes to their positions in HOOD. Valley National Advisers Inc. lifted its position in shares of Robinhood Markets by 113.6% during the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Robinhood Markets by 107.6% during the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after buying an additional 99 shares in the last quarter. Vision Financial Markets LLC boosted its position in Robinhood Markets by 100.0% in the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock valued at $29,000 after buying an additional 100 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at $29,000. Finally, Guerra Advisors Inc bought a new stake in shares of Robinhood Markets during the third quarter worth $30,000. 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.