Robinhood Markets (NASDAQ:HOOD) Shares Down 3% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) shares traded down 3% on Monday after an insider sold shares in the company. The company traded as low as $144.12 and last traded at $144.26. 27,597,099 shares were traded during trading, a decline of 34% from the average session volume of 42,094,504 shares. The stock had previously closed at $148.67.

Specifically, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on HOOD shares. Needham & Company LLC boosted their price objective on Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. JMP Securities raised their target price on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Citigroup boosted their price target on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a research report on Saturday, September 27th. Finally, Bank of America raised their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $113.59.

Robinhood Markets Trading Down 3.0%

The firm has a 50-day moving average of $115.20 and a two-hundred day moving average of $83.57. The firm has a market cap of $128.20 billion, a price-to-earnings ratio of 73.23, a PEG ratio of 4.13 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly 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. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same period in the previous year, the business posted $0.21 EPS. The company’s revenue for the quarter was up 45.0% on a year-over-year basis. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. NBC Securities Inc. increased its position in shares of Robinhood Markets by 155,600.0% during the first quarter. NBC Securities Inc. now owns 1,557 shares of the company’s stock valued at $64,000 after purchasing an additional 1,556 shares during the period. Wedmont Private Capital raised its holdings in shares of Robinhood Markets by 28.9% in the 1st quarter. Wedmont Private Capital now owns 12,424 shares of the company’s stock worth $543,000 after buying an additional 2,785 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of Robinhood Markets by 62.9% during the 1st quarter. Park Avenue Securities LLC now owns 63,272 shares of the company’s stock worth $2,633,000 after buying an additional 24,441 shares during the period. Farther Finance Advisors LLC boosted its stake in Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company’s stock valued at $290,000 after buying an additional 265 shares in the last quarter. Finally, Requisite Capital Management LLC grew its position in Robinhood Markets by 168.2% in the first quarter. Requisite Capital Management LLC now owns 19,179 shares of the company’s stock valued at $798,000 after acquiring an additional 12,029 shares during the period. 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.