Steven Quirk Sells 49,942 Shares of Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven Quirk sold 49,942 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $131.15, for a total transaction of $6,549,893.30. Following the completion of the sale, the insider directly owned 54,496 shares of the company’s stock, valued at $7,147,150.40. The trade was a 47.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Robinhood Markets Trading Down 3.7%

Robinhood Markets stock opened at $131.95 on Friday. The business’s 50 day simple moving average is $133.29 and its 200 day simple moving average is $109.74. Robinhood Markets, Inc. has a 12 month low of $29.66 and a 12 month high of $153.86. The company has a market cap of $118.65 billion, a price-to-earnings ratio of 54.75, a PEG ratio of 2.97 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 EPS 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 analyst estimates of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The business’s revenue for the quarter was up 100.0% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on HOOD. CICC Research started coverage on Robinhood Markets in a report on Monday, October 27th. They set an “outperform” rating and a $155.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Robinhood Markets in a research note on Friday. Piper Sandler reiterated an “overweight” rating on shares of Robinhood Markets in a research note on Wednesday, November 26th. Morgan Stanley raised their price target on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. Finally, Barclays upped their price target on shares of Robinhood Markets from $162.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $136.95.

Institutional Trading of Robinhood Markets

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. grew its position in Robinhood Markets by 2.1% in the first quarter. Federated Hermes Inc. now owns 31,024 shares of the company’s stock worth $1,291,000 after acquiring an additional 638 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Robinhood Markets by 366.8% during the first quarter. PNC Financial Services Group Inc. now owns 31,389 shares of the company’s stock worth $1,306,000 after purchasing an additional 24,664 shares during the last quarter. Cary Street Partners Financial LLC bought a new stake in Robinhood Markets during the first quarter worth about $1,849,000. Atria Wealth Solutions Inc. boosted its holdings in shares of Robinhood Markets by 11.6% in the 1st quarter. Atria Wealth Solutions Inc. now owns 43,720 shares of the company’s stock worth $1,820,000 after purchasing an additional 4,546 shares in the last quarter. Finally, Westwood Holdings Group Inc. bought a new position in shares of Robinhood Markets during the 1st quarter valued at about $735,000. Hedge funds and other 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.