Robinhood Markets (NASDAQ:HOOD) Trading Down 2.6% on Insider Selling

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) traded down 2.6% during mid-day trading on Thursday following insider selling activity. The company traded as low as $39.91 and last traded at $41.10. 19,454,446 shares were traded during mid-day trading, a decline of 17% from the average session volume of 23,393,608 shares. The stock had previously closed at $42.21.

Specifically, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the transaction, the chief technology officer now owns 5,853 shares in the company, valued at $201,987.03. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $38.31, for a total value of $957,750.00. Following the completion of the sale, the insider now owns 822,825 shares in the company, valued at approximately $31,522,425.75. This represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

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Analyst Upgrades and Downgrades

HOOD has been the topic of several recent analyst reports. Piper Sandler boosted their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. KeyCorp upped their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Wolfe Research cut shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Citigroup decreased their price target on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, Compass Point started coverage on Robinhood Markets in a research report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective for the company. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.06.

Robinhood Markets Price Performance

The business's 50 day simple moving average is $46.45 and its 200-day simple moving average is $39.62. The stock has a market capitalization of $38.38 billion, a P/E ratio of 27.61, a PEG ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors have recently modified their holdings of the stock. Whipplewood Advisors LLC boosted its stake in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after acquiring an additional 508 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets during the fourth quarter worth $26,000. CoreCap Advisors LLC grew its holdings in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares during the period. Creative Financial Designs Inc. ADV increased its position in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after buying an additional 750 shares in the last quarter. Finally, Colonial Trust Co SC acquired a new stake in Robinhood Markets during the 4th quarter worth $34,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.