Robinhood Markets (NASDAQ:HOOD) Stock Price Down 2.6% After Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price dropped 2.6% during trading on Thursday following insider selling activity. The company traded as low as $39.91 and last traded at $41.10. Approximately 19,454,446 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 23,393,608 shares. The stock had previously closed at $42.21.

Specifically, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the sale, the chief technology officer now owns 5,853 shares in the company, valued at $201,987.03. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $38.31, for a total transaction of $957,750.00. Following the sale, the insider now directly owns 822,825 shares of the company’s stock, valued at approximately $31,522,425.75. This trade represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on HOOD shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. Mizuho lifted their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. KeyCorp increased their price target on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Finally, JMP Securities decreased their target price on Robinhood Markets from $77.00 to $70.00 and set a “market outperform” rating on the stock in a report on Tuesday. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.06.

Robinhood Markets Price Performance

The stock has a market cap of $35.87 billion, a P/E ratio of 25.80, a PEG ratio of 1.05 and a beta of 2.17. The stock has a 50-day simple moving average of $46.63 and a 200-day simple moving average of $39.35.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data 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 net margin of 47.81% and a return on equity of 13.53%. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HOOD. Whipplewood Advisors LLC increased its holdings in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after purchasing an additional 508 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets during the fourth quarter worth about $26,000. CoreCap Advisors LLC increased its stake in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after buying an additional 550 shares during the period. Creative Financial Designs Inc. ADV raised its holdings in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after buying an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC acquired a new stake in Robinhood Markets during the 4th quarter worth approximately $34,000. 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.