Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) traded down 1.9% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $55.15 and last traded at $55.18. 6,082,139 shares changed hands during trading, a decline of 70% from the average session volume of 20,180,012 shares. The stock had previously closed at $56.27.
Specifically, Director Baiju Bhatt sold 90,866 shares of the business's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $55.34, for a total transaction of $5,028,524.44. Following the transaction, the director now owns 5,042 shares in the company, valued at $279,024.28. The trade was a 94.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the transaction, the insider now owns 706,642 shares in the company, valued at approximately $36,462,727.20. This trade represents a 3.42 % decrease in their position. The disclosure for this sale can be found here.
Analyst Upgrades and Downgrades
Several research analysts recently commented on HOOD shares. Barclays boosted their price target on Robinhood Markets from $54.00 to $76.00 and gave the stock an "overweight" rating in a research note on Thursday. The Goldman Sachs Group upgraded Robinhood Markets from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Morgan Stanley boosted their price target on Robinhood Markets from $64.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday. JMP Securities boosted their price target on Robinhood Markets from $60.00 to $77.00 and gave the stock a "market outperform" rating in a research note on Thursday. Finally, Piper Sandler boosted their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average target price of $58.07.
Check Out Our Latest Report on Robinhood Markets
Robinhood Markets Stock Performance
The firm has a market capitalization of $57.71 billion, a P/E ratio of 110.65, a price-to-earnings-growth ratio of 0.73 and a beta of 2.13. The business has a fifty day moving average of $45.45 and a 200-day moving average of $32.43.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its 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 return on equity of 7.52% and a net margin of 21.80%. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 0.97 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Robinhood Markets
A number of institutional investors have recently added to or reduced their stakes in the company. Metavasi Capital LP acquired a new stake in Robinhood Markets in the fourth quarter worth approximately $745,000. Mercer Global Advisors Inc. ADV lifted its position in Robinhood Markets by 224.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 103,583 shares of the company's stock worth $3,860,000 after purchasing an additional 71,652 shares during the period. Itau Unibanco Holding S.A. lifted its position in Robinhood Markets by 1,907.2% in the fourth quarter. Itau Unibanco Holding S.A. now owns 47,972 shares of the company's stock worth $1,835,000 after purchasing an additional 45,582 shares during the period. Comerica Bank lifted its position in Robinhood Markets by 167.3% in the fourth quarter. Comerica Bank now owns 11,894 shares of the company's stock worth $443,000 after purchasing an additional 7,444 shares during the period. Finally, Regal Partners Ltd acquired a new stake in shares of Robinhood Markets during the 4th quarter valued at $932,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.
Robinhood Markets Company Profile
(
Get Free Report)
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.
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