Robinhood Markets (NASDAQ:HOOD) Stock Price Down 1.8% After Insider Selling

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) traded down 1.8% on Thursday following insider selling activity. The stock traded as low as $53.23 and last traded at $53.24. 6,004,516 shares were traded during trading, a decline of 70% from the average session volume of 20,027,008 shares. The stock had previously closed at $54.20.

Specifically, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the transaction, the insider now owns 706,642 shares in the company, valued at $36,462,727.20. This trade represents a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HOOD. Mizuho increased their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday. Raymond James assumed coverage on shares of Robinhood Markets in a research report on Wednesday. They set a "market perform" rating for the company. Citigroup upped their price objective on shares of Robinhood Markets from $25.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Barclays raised their target price on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $52.00 price target (up from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $46.67.

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Robinhood Markets Stock Up 5.1 %

The stock has a 50-day moving average price of $43.49 and a 200 day moving average price of $31.19. The firm has a market capitalization of $49.38 billion, a PE ratio of 94.68, a PEG ratio of 0.73 and a beta of 2.13.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New Wave Wealth Advisors LLC acquired a new position in Robinhood Markets in the 4th quarter valued at $26,000. HM Payson & Co. raised its position in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company's stock valued at $28,000 after buying an additional 410 shares during the last quarter. Eastern Bank acquired a new stake in shares of Robinhood Markets in the third quarter valued at about $30,000. True Wealth Design LLC purchased a new position in shares of Robinhood Markets in the third quarter worth about $30,000. Finally, ORG Wealth Partners LLC acquired a new position in Robinhood Markets during the third quarter worth about $33,000. 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.