Robinhood Markets (NASDAQ:HOOD) Shares Gap Down Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $42.68, but opened at $37.97. Robinhood Markets shares last traded at $38.42, with a volume of 18,480,877 shares.

Specifically, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

HOOD has been the subject of several research reports. The Goldman Sachs Group upgraded shares of Robinhood Markets from a "neutral" rating to a "buy" rating and upped their price target for the company from $40.00 to $46.00 in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lowered their price target on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Barclays increased their price objective on Robinhood Markets from $54.00 to $76.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Finally, Cantor Fitzgerald assumed coverage on Robinhood Markets in a research note on Thursday, March 6th. They issued an "overweight" rating and a $69.00 target price on the stock. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $60.24.

Remove Ads

Robinhood Markets Stock Performance

The firm has a market cap of $30.56 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 1.05 and a beta of 2.14. The business has a fifty day moving average of $48.49 and a two-hundred day moving average of $38.62.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its 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 return on equity of 13.53% and a net margin of 47.81%. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. New Wave Wealth Advisors LLC acquired a new position in shares of Robinhood Markets during the 4th quarter worth approximately $26,000. CoreCap Advisors LLC increased its position in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after buying an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after acquiring an additional 750 shares during the last quarter. Colonial Trust Co SC purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at $34,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after acquiring an additional 498 shares during the last quarter. Institutional investors and hedge funds 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.