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

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) was down 2.6% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $37.45 and last traded at $38.01. Approximately 4,357,175 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 16,985,779 shares. The stock had previously closed at $39.02.

Specifically, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the business's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the sale, the insider now owns 806,955 shares of the company's stock, valued at approximately $30,268,882.05. The trade was a 27.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HOOD. KeyCorp lifted their price target on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Piper Sandler upped their target price on Robinhood Markets from $36.00 to $42.00 and gave the company an "overweight" rating in a report on Monday, December 2nd. Citigroup lifted their price target on Robinhood Markets from $19.00 to $23.00 and gave the stock a "neutral" rating in a research note on Friday, September 27th. JPMorgan Chase & Co. boosted their price objective on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an "underweight" rating in a research report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a "market perform" rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $39.20.

Robinhood Markets Price Performance

The stock has a 50-day moving average price of $34.36 and a 200 day moving average price of $26.25. The firm has a market cap of $33.84 billion, a PE ratio of 64.88, a P/E/G ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company's quarterly revenue was up 36.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.09) earnings per share. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 0.8 earnings per share for the current year.

Institutional Trading of Robinhood Markets

A number of institutional investors have recently added to or reduced their stakes in HOOD. HM Payson & Co. boosted its holdings in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company's stock worth $28,000 after acquiring an additional 410 shares during the period. True Wealth Design LLC acquired a new stake in Robinhood Markets during the 3rd quarter valued at $30,000. Eastern Bank purchased a new stake in Robinhood Markets during the 3rd quarter worth $30,000. ORG Wealth Partners LLC acquired a new position in Robinhood Markets in the 3rd quarter worth $33,000. Finally, International Assets Investment Management LLC purchased a new position in Robinhood Markets in the 2nd quarter valued at about $40,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.