Robinhood Markets (NASDAQ:HOOD) Stock Price Down 4.6% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price fell 4.6% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $137.25 and last traded at $138.07. 19,378,217 shares changed hands during trading, a decline of 52% from the average session volume of 40,624,926 shares. The stock had previously closed at $144.80.

Specifically, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $146.91, for a total transaction of $861,480.24. Following the sale, the chief technology officer owned 6,088 shares in the company, valued at approximately $894,388.08. This trade represents a 49.06% 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.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Mizuho lifted their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 10th. Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a research note on Monday. Morgan Stanley lifted their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. Loop Capital set a $161.00 target price on shares of Robinhood Markets in a research note on Monday. Finally, Citizens Jmp lifted their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “mkt outperform” rating in a research note on Thursday, October 9th. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.85.

Robinhood Markets Stock Down 4.6%

The company has a market cap of $122.70 billion, a PE ratio of 70.09, a P/E/G ratio of 3.76 and a beta of 2.42. The stock’s 50 day simple moving average is $126.23 and its two-hundred day simple moving average is $95.52.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share 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. Robinhood Markets’s revenue was up 45.0% on a year-over-year basis. Analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently made changes to their positions in the business. Hantz Financial Services Inc. increased its position 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 acquiring an additional 148 shares in the last quarter. Hemington Wealth Management increased its position in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 218 shares in the last quarter. Valley National Advisers Inc. increased its position in shares of Robinhood Markets by 113.6% in the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares in the last quarter. Smithfield Trust Co acquired a new stake in shares of Robinhood Markets in the second quarter worth $29,000. Finally, Wayfinding Financial LLC acquired a new stake in Robinhood Markets during the 1st quarter valued at $30,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.