Robinhood Markets (NASDAQ:HOOD) Trading Down 4.5% on Insider Selling

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) were down 4.5% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $109.32 and last traded at $109.83. Approximately 16,976,470 shares were traded during trading, a decline of 59% from the average daily volume of 41,516,879 shares. The stock had previously closed at $115.02.

Specifically, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $109.39, for a total value of $45,761,993.82. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Needham & Company LLC raised their price objective on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. KeyCorp raised their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Compass Point raised their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, June 27th. Redburn Atlantic restated a “sell” rating and set a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.31.

Robinhood Markets Stock Performance

The company has a market capitalization of $95.53 billion, a PE ratio of 54.57, a price-to-earnings-growth ratio of 4.39 and a beta of 2.36. The firm’s 50-day simple moving average is $96.89 and its 200 day simple moving average is $67.07.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business’s revenue was up 45.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors have recently made changes to their positions in HOOD. WCM Investment Management LLC raised its stake in shares of Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after buying an additional 11,244,182 shares during the last quarter. Norges Bank acquired a new position in shares of Robinhood Markets during the 2nd quarter worth $973,122,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of Robinhood Markets during the 2nd quarter worth $951,479,000. Vanguard Group Inc. raised its stake in shares of Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after buying an additional 5,874,701 shares during the last quarter. Finally, AGF Management Ltd. raised its stake in shares of Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after buying an additional 4,255,862 shares during 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.