Robinhood Markets (NASDAQ:HOOD) Stock Price Down 2.9% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price traded down 2.9% during trading on Tuesday following insider selling activity. The stock traded as low as $130.90 and last traded at $131.93. 16,968,027 shares were traded during trading, a decline of 58% from the average session volume of 40,263,309 shares. The stock had previously closed at $135.88.

Specifically, Director Baiju Bhatt sold 1,330,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $128.47, for a total value of $170,865,100.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 48,350 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $140.61, for a total value of $6,798,493.50. Following the transaction, the insider directly owned 70,279 shares in the company, valued at $9,881,930.19. This represents a 40.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $145.95, for a total value of $3,648,750.00. Following the completion of the transaction, the insider owned 540,949 shares of the company’s stock, valued at approximately $78,951,506.55. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Loop Capital set a $161.00 price objective on Robinhood Markets in a report on Monday, October 27th. KeyCorp boosted their target price on shares of Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Citizens Jmp raised their price objective on Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a report on Friday, November 7th. Finally, The Goldman Sachs Group raised their price target on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $132.65.

Robinhood Markets Price Performance

The stock has a 50 day moving average price of $131.37 and a two-hundred day moving average price of $101.53. The firm has a market capitalization of $117.24 billion, a price-to-earnings ratio of 54.74, a PEG ratio of 3.17 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The company’s revenue was up 100.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 earnings per share. As a group, research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its position in Robinhood Markets by 30.0% during the first quarter. Envestnet Asset Management Inc. now owns 328,511 shares of the company’s stock worth $13,673,000 after acquiring an additional 75,745 shares during the last quarter. Allworth Financial LP lifted its position in Robinhood Markets by 23.4% during the first quarter. Allworth Financial LP now owns 1,401 shares of the company’s stock worth $58,000 after buying an additional 266 shares during the period. Xponance Inc. lifted its holdings in shares of Robinhood Markets by 8.3% during the 1st quarter. Xponance Inc. now owns 67,369 shares of the company’s stock worth $2,804,000 after acquiring an additional 5,142 shares during the period. Ballentine Partners LLC acquired a new position in shares of Robinhood Markets in the 1st quarter valued at $270,000. Finally, Arizona State Retirement System grew its position in Robinhood Markets by 14.1% during the first quarter. Arizona State Retirement System now owns 177,032 shares of the company’s stock valued at $7,368,000 after acquiring an additional 21,924 shares during the period. 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.