Robinhood Markets (NASDAQ:HOOD) Trading Down 0.5% After Insider Selling

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) were down 0.5% on Wednesday following insider selling activity. The stock traded as low as $59.15 and last traded at $60.16. Approximately 10,216,140 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 24,404,799 shares. The stock had previously closed at $60.44.

Specifically, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the sale, the director now directly owns 5,042 shares in the company, valued at approximately $316,133.40. The trade was a 99.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Needham & Company LLC increased their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Barclays increased their target price on Robinhood Markets from $54.00 to $76.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. JMP Securities boosted their price target on Robinhood Markets from $60.00 to $77.00 and gave the company a "market outperform" rating in a research note on Thursday, February 13th. Morgan Stanley increased their price objective on Robinhood Markets from $64.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Finally, Wolfe Research cut Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and an average target price of $59.53.

Robinhood Markets Price Performance

The firm has a market capitalization of $45.61 billion, a P/E ratio of 32.87, a PEG ratio of 1.11 and a beta of 2.13. The company's 50 day moving average price is $47.42 and its 200 day moving average price is $33.80.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data 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%. On average, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently added to or reduced their stakes in HOOD. FMR LLC lifted its position in Robinhood Markets by 184.8% during the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares during the period. Norges Bank bought a new stake in shares of Robinhood Markets during the fourth quarter worth approximately $329,598,000. GQG Partners LLC acquired a new position in Robinhood Markets in the fourth quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership bought a new position in Robinhood Markets in the fourth quarter valued at approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Robinhood Markets by 335.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock worth $193,202,000 after acquiring an additional 3,994,745 shares during the period. Institutional investors own 93.27% of the company's stock.

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.