Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares dropped 8.5% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $42.14 and last traded at $42.90. Approximately 20,462,413 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 28,722,781 shares. The stock had previously closed at $46.89.
Specifically, Director Meyer Malka sold 64,951 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $49.64, for a total value of $3,224,167.64. Following the sale, the director now owns 3,235,585 shares in the company, valued at $160,614,439.40. This represents a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. Sanford C. Bernstein upped their target price on Robinhood Markets from $30.00 to $51.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their price target on Robinhood Markets from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Mizuho boosted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group raised 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 report on Friday, December 6th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.13.
Check Out Our Latest Report on Robinhood Markets
Robinhood Markets Price Performance
The stock has a 50 day simple moving average of $48.93 and a two-hundred day simple moving average of $35.64. The company has a market cap of $39.33 billion, a price-to-earnings ratio of 28.29, a price-to-earnings-growth 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 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.
Hedge Funds Weigh In On Robinhood Markets
Several institutional investors and hedge funds have recently bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets during the 4th quarter valued at approximately $26,000. CoreCap Advisors LLC raised its position in Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV lifted its stake 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 purchasing an additional 750 shares during the last quarter. Colonial Trust Co SC purchased a new position in shares of Robinhood Markets during the 4th quarter worth $34,000. Finally, Silicon Valley Capital Partners acquired a new stake in shares of Robinhood Markets during the 4th quarter worth about $37,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.
About Robinhood Markets
(
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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