Robinhood Markets (NASDAQ:HOOD) Trading Down 0.6% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) fell 0.6% during mid-day trading on Monday following insider selling activity. The company traded as low as $49.12 and last traded at $49.15. 14,380,768 shares changed hands during trading, a decline of 42% from the average session volume of 24,901,288 shares. The stock had previously closed at $49.45.

Specifically, Director Baiju Bhatt sold 47,133 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $45.27, for a total transaction of $2,133,710.91. Following the completion of the sale, the director now directly owns 7,863 shares of the company's stock, valued at $355,958.01. This represents a 85.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HOOD shares. Mizuho boosted their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. JMP Securities cut their price objective on shares of Robinhood Markets from $77.00 to $70.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. KeyCorp lowered their target price on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Needham & Company LLC cut their price target on shares of Robinhood Markets from $70.00 to $62.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Compass Point began coverage on Robinhood Markets in a research note on Wednesday, March 19th. They set a "buy" rating and a $61.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.88.

Robinhood Markets Stock Performance

The stock has a market capitalization of $42.66 billion, a PE ratio of 30.88, a P/E/G ratio of 1.05 and a beta of 2.17. The company's fifty day simple moving average is $43.49 and its two-hundred day simple moving average is $41.00.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HOOD. MetLife Investment Management LLC raised its position in shares of Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after buying an additional 171 shares during the period. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock worth $368,000 after purchasing an additional 233 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock valued at $290,000 after purchasing an additional 265 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock worth $142,000 after purchasing an additional 277 shares during the period. Finally, Blue Trust Inc. increased its position in Robinhood Markets by 28.6% during the 1st quarter. Blue Trust Inc. now owns 1,998 shares of the company's stock worth $83,000 after purchasing an additional 444 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.

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