Robinhood Markets (NASDAQ:HOOD) Shares Down 3.3% After Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) shares were down 3.3% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $120.62 and last traded at $122.65. Approximately 32,764,100 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 42,227,398 shares. The stock had previously closed at $126.80.

Specifically, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $124.13, for a total value of $727,898.32. Following the completion of the transaction, the chief technology officer directly owned 17,816 shares in the company, valued at $2,211,500.08. The trade was a 24.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of research analyst reports. Compass Point lifted their target price on Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, June 27th. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price objective (up from $120.00) on shares of Robinhood Markets in a report on Tuesday. Redburn Atlantic restated a “sell” rating and set a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Morgan Stanley raised their price target on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Finally, JMP Securities boosted their price objective on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a “market outperform” rating in a report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.06.

Robinhood Markets Stock Performance

The company’s 50-day moving average price is $110.25 and its 200 day moving average price is $78.17. The stock has a market cap of $109.00 billion, a PE ratio of 62.26, a price-to-earnings-growth ratio of 4.52 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same quarter last year, the firm posted $0.21 earnings per share. The firm’s revenue was up 45.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently modified their holdings of the business. Whipplewood Advisors LLC lifted its position in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock valued at $25,000 after purchasing an additional 508 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after buying an additional 148 shares during the period. Hemington Wealth Management lifted its position in shares of Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 218 shares in the last quarter. Smithfield Trust Co bought a new position in shares of Robinhood Markets during the 2nd quarter valued at approximately $29,000. Finally, Wayfinding Financial LLC bought a new position in shares of Robinhood Markets during the 1st quarter valued at approximately $30,000. Institutional investors own 93.27% of the company’s stock.

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.