Robinhood Markets (NASDAQ:HOOD) Shares Down 11.1% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price fell 11.1% on Thursday after an insider sold shares in the company. The stock traded as low as $37.44 and last traded at $37.95. 31,848,171 shares were traded during trading, an increase of 44% from the average session volume of 22,164,749 shares. The stock had previously closed at $42.68.

Specifically, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HOOD. Raymond James initiated coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating on the stock. KeyCorp lifted their target price on Robinhood Markets from $57.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Compass Point assumed coverage on Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target for the company. JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $39.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, Mizuho boosted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $60.24.

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Robinhood Markets Trading Down 9.8 %

The firm has a 50-day moving average price of $48.15 and a 200-day moving average price of $38.71. The company has a market capitalization of $30.56 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC grew its position in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after buying an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC boosted its stake in shares of Robinhood Markets by 1.1% during the 4th 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 grew its holdings in shares of Robinhood Markets by 8.7% in the 3rd 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 during the last quarter. Geode Capital Management LLC raised its position in shares of 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 purchasing an additional 555,299 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after purchasing an additional 3,091,514 shares during the last quarter. 93.27% of the stock is currently owned by 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.