Robinhood Markets (NASDAQ:HOOD) Trading Down 0.2% After Insider Selling

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) were down 0.2% during trading on Friday following insider selling activity. The stock traded as low as $55.36 and last traded at $55.94. Approximately 9,347,489 shares traded hands during trading, a decline of 62% from the average daily volume of 24,804,055 shares. The stock had previously closed at $56.06.

Specifically, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total value of $3,038,500.00. Following the transaction, the insider now owns 706,642 shares in the company, valued at approximately $42,942,634.34. This trade represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the completion of the transaction, the director now owns 5,042 shares in the company, valued at $316,133.40. The trade was a 99.04 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several research analysts recently commented on HOOD shares. KeyCorp raised their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Wolfe Research lowered shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday. JMP Securities raised their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a "market outperform" rating in a report on Thursday, February 13th. Morgan Stanley raised their price target on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group upgraded shares of Robinhood Markets from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.53.

Robinhood Markets Price Performance

The firm has a market cap of $45.61 billion, a price-to-earnings ratio of 32.87, a P/E/G ratio of 1.11 and a beta of 2.13. The business's 50-day moving average price is $47.42 and its two-hundred day moving average price is $33.80.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share 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%. Equities analysts predict 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 hedge funds have recently added to or reduced their stakes in HOOD. Creative Planning boosted its holdings in Robinhood Markets by 34.6% in the third quarter. Creative Planning now owns 35,384 shares of the company's stock worth $829,000 after purchasing an additional 9,094 shares during the period. Raymond James & Associates boosted its holdings in Robinhood Markets by 76.6% in the third quarter. Raymond James & Associates now owns 99,278 shares of the company's stock worth $2,325,000 after purchasing an additional 43,075 shares during the period. Signaturefd LLC boosted its holdings in Robinhood Markets by 16.5% in the third quarter. Signaturefd LLC now owns 3,437 shares of the company's stock worth $80,000 after purchasing an additional 487 shares during the period. Eastern Bank acquired a new position in Robinhood Markets in the third quarter worth $30,000. Finally, Private Advisor Group LLC boosted its holdings in Robinhood Markets by 3.2% in the third quarter. Private Advisor Group LLC now owns 84,777 shares of the company's stock worth $1,985,000 after purchasing an additional 2,644 shares during the period. Institutional investors and hedge funds 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.