Robinhood Markets (NASDAQ:HOOD) Shares Down 0.4% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) dropped 0.4% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $45.96 and last traded at $47.92. Approximately 13,965,545 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 29,478,602 shares. The stock had previously closed at $48.12.

Specifically, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $49.02, for a total value of $1,225,500.00. Following the completion of the sale, the insider now owns 822,893 shares in the company, valued at $40,338,214.86. This trade represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Meyer Malka sold 64,951 shares of Robinhood Markets stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $49.64, for a total transaction of $3,224,167.64. Following the transaction, the director now owns 3,235,585 shares of the company's stock, valued at approximately $160,614,439.40. The trade was a 1.97 % decrease in their position. The disclosure for this sale can be found here.

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Wall Street Analyst Weigh In

A number of brokerages have issued reports on HOOD. Sanford C. Bernstein lifted their target price 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. Morgan Stanley lifted their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Needham & Company LLC lifted 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. KeyCorp lifted their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Cantor Fitzgerald assumed coverage on shares of Robinhood Markets in a report on Thursday. They set an "overweight" rating and a $69.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus price target of $60.13.

Robinhood Markets Price Performance

The business's 50-day moving average price is $48.93 and its 200 day moving average price is $35.64. The firm has a market capitalization of $39.33 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates 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, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. FMR LLC raised its holdings 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 acquiring an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC raised its holdings in Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after acquiring an additional 273,860 shares in the last quarter. State Street Corp raised its holdings in Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company's stock valued at $317,536,000 after acquiring an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC raised its holdings in Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after acquiring an additional 555,299 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after acquiring an additional 3,091,514 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.