Robinhood Markets (NASDAQ:HOOD) Insider Sells $6,549,893.30 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven Quirk sold 49,942 shares of Robinhood Markets stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $131.15, for a total transaction of $6,549,893.30. Following the transaction, the insider directly owned 54,496 shares in the company, valued at approximately $7,147,150.40. This represents a 47.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Robinhood Markets Stock Down 3.7%

HOOD opened at $131.95 on Monday. The stock has a market cap of $118.65 billion, a P/E ratio of 54.75, a P/E/G ratio of 2.97 and a beta of 2.43. Robinhood Markets, Inc. has a 12 month low of $29.66 and a 12 month high of $153.86. The company has a fifty day simple moving average of $133.29 and a 200 day simple moving average of $110.06.

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

Analyst Ratings Changes

Several equities research analysts recently commented on HOOD shares. Barclays boosted their price objective on shares of Robinhood Markets from $162.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Bank of America boosted their price target on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. JMP Securities upped their price objective on Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 9th. Cantor Fitzgerald lifted their target price on Robinhood Markets from $130.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Piper Sandler restated an “overweight” rating on shares of Robinhood Markets in a research note on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.95.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. boosted its holdings in shares of Robinhood Markets by 2.1% in the 1st quarter. Federated Hermes Inc. now owns 31,024 shares of the company’s stock valued at $1,291,000 after buying an additional 638 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Robinhood Markets by 366.8% during the first quarter. PNC Financial Services Group Inc. now owns 31,389 shares of the company’s stock worth $1,306,000 after acquiring an additional 24,664 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in Robinhood Markets during the first quarter worth $1,849,000. Atria Wealth Solutions Inc. lifted its stake in Robinhood Markets by 11.6% in the first quarter. Atria Wealth Solutions Inc. now owns 43,720 shares of the company’s stock valued at $1,820,000 after acquiring an additional 4,546 shares during the last quarter. Finally, Westwood Holdings Group Inc. bought a new position in shares of Robinhood Markets in the 1st quarter valued at about $735,000. Institutional investors 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.