Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) dropped 5.1% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $61.93 and last traded at $61.95. Approximately 16,100,477 shares changed hands during trading, a decline of 33% from the average daily volume of 24,048,426 shares. The stock had previously closed at $65.28.
Specifically, Director Baiju Bhatt sold 522,180 shares of Robinhood Markets stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the transaction, the director now directly owns 5,042 shares of the company's stock, valued at $316,133.40. This trade represents a 99.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Analyst Ratings Changes
A number of research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Needham & Company LLC boosted their target price 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. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Piper Sandler upped their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Sanford C. Bernstein upped their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and a consensus target price of $59.53.
Read Our Latest Analysis on Robinhood Markets
Robinhood Markets Trading Down 8.0 %
The company 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 firm's 50 day moving average price is $47.19 and its two-hundred day moving average price is $33.56.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS 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%. Analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Robinhood Markets
A number of institutional investors have recently modified their holdings of HOOD. FMR LLC raised its stake in Robinhood Markets by 184.8% in the fourth 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 in the last quarter. Newlands Management Operations LLC raised its stake in Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after acquiring an additional 273,860 shares in the last quarter. State Street Corp raised its stake in Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company's stock worth $317,536,000 after acquiring an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC raised its stake in Robinhood Markets by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock worth $455,464,000 after acquiring an additional 555,299 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after acquiring an additional 3,091,514 shares in the last quarter. Institutional investors own 93.27% of the company's stock.
Robinhood Markets Company Profile
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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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