Robinhood Markets (NASDAQ:HOOD) Stock Price Down 1.3% on Insider Selling

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) fell 1.3% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $47.42 and last traded at $47.75. 19,267,221 shares changed hands during trading, a decline of 9% from the average session volume of 21,210,096 shares. The stock had previously closed at $48.36.

Specifically, Director Baiju Bhatt sold 223,528 shares of Robinhood Markets stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $43.21, for a total transaction of $9,658,644.88. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $217,864.82. This trade represents a 97.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $43.36, for a total transaction of $253,786.08. Following the completion of the transaction, the chief technology officer now directly owns 11,706 shares of the company's stock, valued at $507,572.16. The trade was a 33.33 % 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 equities research analysts have recently commented on HOOD shares. Piper Sandler increased their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Raymond James assumed coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating on the stock. Barclays upped their price target on Robinhood Markets from $54.00 to $76.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Wolfe Research downgraded Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Five equities research 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $60.82.

Robinhood Markets Price Performance

The firm has a market cap of $36.38 billion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 1.05 and a beta of 2.14. The firm's fifty day moving average is $49.29 and its two-hundred day moving average is $37.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share 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%. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of Robinhood Markets

Several large investors have recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new position in Robinhood Markets in the fourth quarter worth approximately $26,000. CoreCap Advisors LLC increased its stake in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after purchasing an additional 750 shares in the last quarter. Colonial Trust Co SC acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at $34,000. Finally, Silicon Valley Capital Partners bought a new stake in Robinhood Markets in the fourth quarter worth $37,000. 93.27% of the stock is owned by institutional investors and hedge funds.

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.