Robinhood Markets (NASDAQ:HOOD) Stock Price Down 13.7% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price was down 13.7% during trading on Monday after an insider sold shares in the company. The stock traded as low as $37.82 and last traded at $38.35. Approximately 26,298,286 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 30,527,002 shares. The stock had previously closed at $44.42.

Specifically, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the sale, the chief technology officer now directly owns 17,559 shares of the company's stock, valued at $821,936.79. The trade was a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $49.02, for a total transaction of $1,225,500.00. Following the transaction, the insider now owns 822,893 shares in the company, valued at $40,338,214.86. This represents a 2.95 % decrease in their position. The disclosure for this sale can be found here.

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Analyst Ratings Changes

A number of brokerages recently issued reports on HOOD. Piper Sandler upped their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Sanford C. Bernstein upped their price target on Robinhood Markets from $30.00 to $51.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th. The Goldman Sachs Group raised Robinhood Markets from a "neutral" rating to a "buy" rating and raised their price objective for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Citigroup upped their target price on Robinhood Markets from $45.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods upped 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 investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and an average price target of $61.31.

Robinhood Markets Trading Up 7.1 %

The business's fifty day moving average price is $48.96 and its 200 day moving average price is $36.25. The company has a market capitalization of $34.48 billion, a P/E ratio of 24.80, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS 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 research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently modified their holdings of HOOD. FMR LLC raised its stake in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after acquiring an additional 26,107,934 shares in the last quarter. Norges Bank acquired a new stake in shares of Robinhood Markets during the 4th quarter worth about $329,598,000. GQG Partners LLC acquired a new stake in shares of Robinhood Markets during the 4th quarter worth about $302,325,000. Artisan Partners Limited Partnership bought a new position in Robinhood Markets during the 4th quarter valued at about $152,949,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after buying an additional 3,994,745 shares in the last quarter. Institutional investors 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.